NTPC Green Energy shares: Shares of newly listed NTPC Green Energy ((NGEL), the renewable energy arm of NTPC, dropped as much as 4.27% to ₹107.35 apiece on the BSE on Monday, January 27.
The company released its December quarter (Q3 FY25) numbers during the weekend.
NTPC Green Energy on Saturday reported an 18% rise in consolidated net profit at ₹65.61 crore for the December quarter FY25, on account of higher income.
It had logged ₹55.61 crore net profit in the year-ago quarter, the company said in an exchange filing.
Total income rose to ₹581.46 crore from ₹463.46 crore in the corresponding period of the previous fiscal.
Expenses were at ₹482.22 crore as against ₹383.28 crore.
NGEL is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes.
On Friday, NGEL said its arm NTPC Renewable Energy Limited (NTPC REL) has won a 300 megawatt (MW) solar project from NHPC bidder in the e-reverse auction conducted by NHPC.
In November 2024, shares of NTPC Green Energy Ltd were listed with a premium of over 3% against the issue price of ₹108.
The stock made its debut at ₹111.60, up 3.33% from the issue price on the BSE. Later, it climbed 12.40% to ₹121.40.
On the NSE, it listed at ₹111.50, up 3.24%.
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The initial public offering (IPO) of NTPC Green Energy Ltd was subscribed 2.40 times on the closing day of the share sale. The ₹10,000 crore share sale had a price band of ₹102-₹108 per share.
“Proceeds from the IPO, about ₹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,” the company had said.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.
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