NTPC Green Energy Shares Surge 5%, Market Valuation Above Rs 1 Lakh Cr

New Delhi, Nov 28 (PTI) Shares of newly-listed NTPC Green Energy Ltd, the renewable energy arm of NTPC, surged nearly 5 per cent on the day two of trading on Thursday.

The stock climbed 4.63 per cent to settle at Rs 127.75 on the BSE. During the day, it jumped 8.31 per cent to Rs 132.25.

At the NSE, it soared 4.56 per cent to Rs 127.20.

The company's market valuation stood at Rs 1,07,646.36 crore.

Shares of NTPC Green Energy Ltd ended with a premium of 13 per cent against the issue price of Rs 108 on Wednesday.

The initial public offering (IPO) of NTPC Green Energy Ltd got subscribed 2.4 times on the closing day of the share sale on Friday.

The Rs 10,000-crore share sale had a price band of Rs 102-108 per share.

Proceeds from the IPO, about Rs 7,500 crore at the upper band, will 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.

NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.

NTPC Green Energy on Thursday said its arm NTPC Renewable Energy has started commercial supply of electricity from the first part of 55 MW at Shajapur solar project in Madhya Pradesh.