Shares of NTPC Green Energy made their debut on the bourses at over 3 per cent premium to the issue price and gained steam during the day to end 12.2 per cent higher with a market capitalisation of over ₹1 lakh crore.

The stock listed at ₹111.50 on the NSE, went to a high of ₹122.65 and closed at ₹121.65 on the NSE. The issue price was ₹108 a share. Over 30 crore shares were traded with a total traded value of ₹3,591 crore.

Growth drivers

Solar, wind, storage and the futuristic green molecules were the four pillars of growth for the company, NTPC’s Chairman and Managing Director Gurdeep Singh said during the listing ceremony.

The company would be working with different State governments, since State discoms are customers of the green power that it produces. “Our growth trajectory should be smooth and faster.”

The company had raised ₹10,000 crore through its IPO, which was subscribed 2.55 times.

Renewable energy assets

Its portfolio of renewable energy assets at the end of September consisted of 16,896 MW including 3,320 MW of operating projects and 13,576 MW of contracted and awarded projects. Its capacity under pipeline together with its existing portfolio aggregated 26,071 MW. It had 17 offtakers across 41 solar projects and 11 wind projects.

“For long-term investors, we believe NTPC Green Energy is a great opportunity to invest in a leading player of India’s renewable energy sector, backed by the formidable resources and expertise of NTPC – as a long-term strategy only,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

With ambitious renewable energy targets, the company is well-equipped to capitalise on the increasing demand for sustainable energy solutions, he said.

Earlier this month, Singh had said the company had a planned capex of ₹1 lakh crore over the next three years to take its capacity to 19 GW.

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