• Source:JND
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NTPC Share Price:  The share price of NTPC jumped by more than 4% to an all-time high on Thursday after NTPC Green Energy, its renewable energy arm, filed preliminary papers with the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 10,000 crore through an initial public offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the initial share sale is entirely a fresh issue of equity shares, with no offer for sale (OFS) component.

The Indian stock market benchmarks- S&P BSE Sensex and Nifty 50- touched new all-time highs in the opening hours following the US Fed rate cut and gain announcement in Asia-Pacific markets and Wall Street futures. The Sensex of the Bombay Stock Exchange (BSE), which consists of the top 30 companies, was trading at 83,500, up 600 points, or 0.7 per cent, at the open, while the Nifty 50 was around 25,532, up 165 points, or more than 0.6 per cent.

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The renewable energy firm said that the proceeds of Rs 7,500 crore from the issue would be used to repay or prepay part or all of the outstanding debt of its subsidiary NTPC Renewable Energy Ltd (NREL), while a portion would be used for general corporate purposes.
NTPC Green Power is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio that includes solar and wind power assets.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the lead managers managing the books for the issue.

Arkade Developers, Wester Carriers IPO to close today

The initial public offering of real estate firm Arkade Developers, and logistic firm Western Carriers is scheduled to close today. So far, both the IPO have received massive responses from investors. Shares of IPOs are trading with a huge premiums in grey markets.

Also Read: Stock Market: Sensex, Nifty Hit New All-Time Highs In Opening Hours; Sensex Climbs Over 83,500, Nifty 50 Trades Above 25,500

Disclaimer: This is only a news about performance of the shares. Jagran does not advise investing, please do take expert opinion before investing.