Shares of newly listed NTPC Green Energy Ltd., the subsidiary of state-run NTPC Ltd., declined as much as 5% on Thursday, December 26, as the shareholder lock-in of the company ended today.
The one-month lock-in period for the company ends today, which will free up as many as 18.3 crore shares for trading. The number of shares that are freed up for trading amount to 2% of the company’s outstanding equity.
It needs to be specified that the end of the lock-in period does not mean that all the shares will be sold in the open market, but they only become eligible to be traded.
Post this, the three-month lock-in period for NTPC Green Energy will end on February 24, 2025, when another 18.3 crore shares or 2% of the company’s outstanding equity of the company will free up for trade, according to Nuvama Alternative and Quantitative Research.
NTPC Green Energy’s three-day IPO worth ₹10,000 crore, which was entire fresh issue of shares, saw an overall subscription of 2.55 times.
The stock listed at a premium to their IPO price of ₹108, made a post-listing high of ₹155, but have since declined from those levels and are consolidating in a range.
Shares of NTPC Green Energy are trading 5% lower on Thursday at ₹127.32.
Content retrieved from: https://www.cnbctv18.com/market/ntpc-green-energy-share-price-one-month-shareholder-lock-in-period-ends-equity-ipo-returns-psu-19529655.htm.
