Shares of NTPC Green Energy Ltd., the recently listed subsidiary of state-run NTPC Ltd. are locked in a 10% upper circuit on Tuesday, December 3.
This is the first upper circuit that the stock has seen post its listing on November 27. The stock currently trades under a 10% price limit.
Out of the five trading sessions that the stock has had, the stock has ended higher in four of them.
With Tuesday’s move, shares of NTPC Green Energy have risen 31% above their IPO price of ₹108. The stock now has a market capitalisation of ₹1.2 lakh crore post this five-day upmove.
NTPC Green Energy raised ₹10,000 crore during its three-day IPO, in what was an entirely fresh issue of equity shares.
Out of the proceeds, the company intends to use over ₹7,500 crore to repay its existing debt. NTPC Green is currently the third-largest IPO of the year after Hyundai Motors India and Swiggy.
NTPC Green Energy said that it will commission 5,000 MW of projects by financial year 2026 and is targeting capacity of 19,000 MW by March 2027.
NTPC Green Energy does not have any analyst coverage as of date.
NTPC Green Energy shares will be in focus on December 26 this year as over 18.3 crore shares or 2% of the company’s outstanding equity will be eligible for trade as its one-month shareholder lock-in period will end.
It needs to be clarified that the shareholder lock-in period ending does not mean all the shares will be sold in the open market but will only become eligible to trade.
Shares of NTPC Green Energy are locked in an upper circuit of 10% at ₹142.13.
Content retrieved from: https://www.cnbctv18.com/market/ntpc-green-energy-share-price-10-percent-upper-circuit-above-ipo-price-capacity-lock-in-ending-timeline-19518411.htm.
