NTPC Green Energy listing today: Maharashtra joint venture, GMP, other details

NTPC Green Energy set up a 50:50 joint venture with Maharashtra State Power Generation Company Ltd (MAHAGENCO) ahead of its planned listing

Published on: Nov 27, 2024, 09:47:03 IST

By HT News Desk

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NTPC Green Energy set up a 50:50 joint venture with Maharashtra State Power Generation Company Ltd (MAHAGENCO) ahead of its planned listing which will happen on Wednesday, November 27.

A signboard of NTPC (National Thermal Power Corporation Limited) is seen outside its office in Mumbai. (Reuters)

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The joint venture will develop, operate, and maintain renewable energy parks in Maharashtra under the Ultra-Mega Renewable Energy Power Parks (UMREPP) scheme.

For this, they incorporated MAHAGENCO NTPC Green Energy Pvt Ltd on Monday, November 25, 2024.

Details of NTPC Green Energy listing

NTPC Green Energy will be listed on the bourses and will begin trading from 10am IST.

The current Grey Market Premium (GMP) today is ₹4 which means the listing price may be around ₹112 ( ₹108 + ₹4), according to a Mint report.

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“Market sentiment surrounding the NTPC Green Energy IPO suggests a neutral to flat listing for the stock, primarily due to its massive INR 10,000 crore size,” the reprot quoted VLA Amabala, a SEBI-registered research analyst and Co-founder of Stock Market Today as saying. "The current conditions indicate that the stock could debut with a modest gain of approximately 1.85% per share."

So far, 50,000 equity shares have been subscribed to at the face value of ₹10 each.

“Despite the selloff mood in the market and expensive valuations, NTPC Green Energy, the leading player of India's renewable energy sector received a decent demand from NII & Retail investors while NII stayed back with low interest," the reprot quoted Prashanth Tapse, Senior VP — Research at Mehta Equities, as having said. "Considering all the parameters and decent subscription demand followed by market sentiments, the stock can be listed in the neutral to flat gain range of 0-5% on its issue price.”

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HT News Desk
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