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Shares of NTPC Green Energy, a lately listed renewable vitality firm, fell by over 5% on December 26; What traders ought to know
NTPC Green Energy Shares
Shares of NTPC Green Energy, a lately listed renewable vitality firm, fell by over 5% on December 26 because the one-month lock-in interval for anchor traders got here to an finish.
With the lock-in expiry, 1.83 crore shares, or 2% of the corporate’s complete stake, turned eligible for buying and selling. This opened the chance for anchor traders to dump as much as 50% of their holdings in the event that they selected to take action. It’s essential to notice that the tip of the lock-in interval doesn’t assure that each one these shares will probably be bought, solely that they’ll now be traded.
Despite the drop, the inventory has gained 9% since its market debut lower than a month in the past, offering traders a chance to take partial earnings.
On December 22, NTPC Green Energy entered right into a Memorandum of Understanding (MoU) with the Department of Industries, Government of Bihar. The MoU covers investments in renewable vitality tasks in Bihar, together with ground-mounted and floating photo voltaic installations, battery vitality storage methods, and inexperienced hydrogen mobility initiatives.
NTPC Green Energy made its market debut on November 29, 2024, with a gap share worth of Rs 111.50 on the NSE, a 3.24% premium over its IPO worth of Rs 108 per share. The firm raised Rs 10,000 crore by its IPO, which was absolutely allotted to the issuance of recent fairness shares with no offer-for-sale (OFS) element. NTPC Green’s IPO was the most important in India’s renewable vitality sector.
The IPO proceeds of Rs 7,500 crore will probably be used to repay or prepay a portion of the excellent loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), with the remaining funds allotted for common company functions.
NTPC Green Energy is a ‘Maharatna’ public sector enterprise, with a portfolio of renewable vitality belongings, together with photo voltaic and wind energy.
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