NTPC Green Energy Limited (NGEL) shares rose after its subsidiary, NTPC Renewable Energy Limited (REL), won a large contract in an e-reverse auction held by the Solar Energy Corporation of India (SECI), the company said in an exchange filing. The statement increased NGEL’s share price by 3.5% to ₹151.9 on the BSE at 9:15 am on December 11, bringing it closer to its record high of ₹155.30 set on November 4, 2024. The company’s market value has increased to ₹1.23 lakh crore, with a trading turnover of ₹56.68 crore.
The company’s fully owned subsidiary, NTPC Renewable Energy Limited (NTPC REL), has won the e-reverse auction held by the Solar Energy Corporation of India (SECI) for the construction of 2000 MW ISTSconnected Solar PV Power Projects. A total of 1000 MW/4000 MWh of Energy Storage Systems (ESS) will be developed as part of the auction. 500 MW of solar power capacity was acquired by NTPC REL at a rate of Rs. 3.52 per kWh.
Performance of IPO and Listing
NTPC Green Energy, which was placed on the stock exchanges on November 27, 2024, has demonstrated consistent performance since its IPO. The company raised ₹10,000 crore through an IPO from November 19 to 22, 2024, issuing 92.59 crore new equity shares. The IPO was subscribed 2.42 times, and the stock was listed on the BSE at ₹111.60, a 3.33% premium above the offering price (₹102-108 per share). At 10.50 a.m., the stock was trading 1.64% higher at ₹149.05 on the BSE.
About NTPC Green Energy Limited
NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, was incorporated in April 2022. NTPC Green is a renewable energy company that specializes in using both organic and inorganic methods to complete projects. The company’s operational capacity as of August 31, 2024, was 3,071 MW from solar projects and 100 MW from wind projects spread throughout six states. 14,696 MW made up the company’s portfolio as of June 30, 2024, which included 11,771 MW of contractual and awarded projects and 2,925 MW of running projects.
