Shares of NTPC Green Energy Ltd, the renewable energy arm of NTPC, listed with a premium of over 3 per cent against the issue price of Rs 108 on Wednesday.
The stock made its debut at Rs 111.60, up 3.33 per cent from the issue price on the BSE. Later, it climbed 12.40 per cent to Rs 121.40.
At the NSE, it listed at Rs 111.50, up 3.24 per cent.
The company’s market valuation stood at Rs 1,02,211.38 crore during the morning trade.
Shares of NTPC climbed nearly 2 per cent to Rs 368.80 on the BSE.
The initial public offering of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale on Friday.
The Rs 10,000-crore share sale had a price band of Rs 102-108 per share.
Proceeds from the IPO, about Rs 7,500 crore at the upper band, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans, and a portion will be utilised for general corporate purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
