The NTPC shares on NSE (National stock Exchange) Thursday, September 19, NTPC's shares, the state-run power generation company, reached a record high of Rs 431.85 per share on the BSE.
This was in response to the company's renewable energy division, NTPC Green Energy, filing draft documents with SEBI, the capital markets regulator, in order to raise Rs 10,000 crore through an initial public offering (IPO).
The shares of NTPC surged as much as 4.34 per cent to the record high level of Rs 431.85 per share on the national stock exchange. after the stock opened at Rs 424.00 per share on NSE.
The shares of NTPC rang the opening bell at Rs 424.00 per share on NSE. The stock was trading at Rs 428.30 per share on the Indian stock exchanges at 11.01 am.
NTPC Renewable Energy IPO details
The proposed initial public offering (IPO) will be a fully new equity share issue, according to the draft red herring prospectus (DRHP). There won't be an OFS (offer for sale) element.
A portion of the proceeds from NTPC Renewable Energy's initial public offering (IPO), specifically Rs 7,500 crore, will be used to settle the debt owed by the renewable energy company. Additionally, a portion will be used for general corporate functions.
NTPC Green Energy Files DRHP for ₹10,000 Crore IPO, Reserving 10% for NTPC Shareholders pic.twitter.com/yhPVDTQMud
— Financewithakshit (@AkshitMaheshw20) September 19, 2024
The renewable energy portfolio of NTPC Green Energy, a central public sector enterprise under the 'Maharatna' umbrella, includes wind and solar power assets located in over six states.
India's installed capacity
India increased its installed capacity from 63 GW in FY21 to 123 GW in FY21. In March 2024, it surged to 191 GW (including large hydro).
NTPC Q1 FY25
For the June quarter, the state-owned company reported a 12 per cent increase in consolidated net profit of Rs 5,506.07 crore, mostly due to higher income.
Its net profit for the same period last year was Rs 4,907.13 crore, the company reported in an exchange filing. From Rs 43,390.02 crore to Rs 48,981.68 crore during the same period last year, total income increased.
In comparison to Rs 36,963.61 crore a year earlier, expenses were Rs 41,844.18 crore.
Consolidated power generation for NTPC increased from 104 billion units (BUs) in Q1 FY24 to 114 billion units (BUs) in Q1 FY25.