NTPC Green Energy's m-cap crosses Rs 1 lakh crore mark on debut, stock jumps 10% post listing
NTPC Green Energy's market capitalisation breached the Rs 1 lakh crore mark on Wednesday as the stock shot up 10% following a lacklustre listing. NTPC's renewable energy arm was listed at Rs 111.50 on the NSE, a 3.2% premium over the issue price of Rs 108.
The stock generated considerable interest on its opening day with over 26 crore shares changing hands around 1:15 pm.
The day's high was Rs 122.65 — just over 13% gain against the issue price.
The issue, which opened for subscription between November 19 and November 22, was overall subscribed 2.42 times with the retail portion getting booked 3.44 times. The quota for non-institutional investors (NIIs) failed to get 100% subscription and ended up getting booked 81%. The qualified institutional buyers’ (QIBs’) portion was subscribed 3.32 times.
«As expected NTPC Green Energy listing was in line with flat debut. Valuations and subdued market mood justify the listing. For long-term investors, we believe NTPC Green Energy Ltd 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 Ltd as a Long term strategy only,» said Prashanth Tapse, Senior VP (Research), Mehta Equities.
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