NTPC share surged 4.3% to hit a fresh 52-week high of Rs 431.85 after the company’s renewable energy arm filed papers for IPO and eventual listing.
NTPC Green Energy filed draft papers for an IPO worth Rs 10,000 crore on Wednesday. The issue will only raise fresh capital and there will be no paring of stake from the existing shareholders.
According to the company, the proceeds will be used to pay off Rs 7,500 crore debt.
The lead book runners of the IPO are IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities and Nuvama Wealth Management.
That apart, NTPC reported a net profit growth of 11% on year in Q1 FY25 standing at Rs 4511 crore. The company’s revenue from operations stood at Rs 44,419.22 crore in the first quarter of FY24, an increase of 13.5% on year from Rs 39,122.25 crore reported in the same period a year ago.
NTPC Vs Nifty
Shares of NTPC have given a return of 5.5% in the last five days and over 6% in the past month. It raised investors’ wealth by more than 36% in the last six months and 77% in the last year.
To compare, the benchmark index Nifty 50 has risen 0.7% in the last five days and 3.8% in the past month. The index has given a return of almost 17% in the past six months and over 27% in the last year.