Shares of NTPC Green Energy made a decent debut on Wednesday when it closed at a premium of 13 per cent against the issue price of ₹108.
The better-than-expected listing saw its market cap crossing the ₹1 lakh crore mark. On the BSE, its market capitalisation stood at ₹1,02,885.49 crore.
This came after the stock opened at ₹111.60, a rise of 3.33 per cent over the issue price. During intra-day trades, it climbed 13.65 per cent to touch a high of ₹122.75. It later settled at ₹122.10 apiece, marking a rise of 13.06 per cent.
On the NSE, its shares were listed at ₹111.50, up 3.24 per cent. The renewable energy arm of NTPC later ended at ₹121.25, a jump of 12.26 per cent. In terms of volume, 343.59 lakh shares of the firm were traded on the BSE and 3,009.61 lakh shares on the NSE during the day.
The initial public offering was subscribed 2.40 times on the closing day of the share sale last Friday. Its ₹10,000-crore share float had come at a price band of ₹102-108 apiece.
While the qualified institutional buyer portion was subscribed 3.51 times, the retail portion and that reserved for non-institutional investors were subscribed 3.59 times and 0.85 times, respectively. The employee portion was subscribed 0.83 times.
About ₹7,500 crore would be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans, and a portion will be utilised for general corporate purposes.
