New Delhi: State-run power generation company NTPC is expected to launch NTPC Green Energy (NGEL) IPO by October-November of this year. NTPC’s management informed analysts in a concall that it is likely to list NTPC Green later this year. NTPC Green was incorporated in April 2022.
The PSU management is contemplating on launching the IPO to tap into the booming IPO market and use the funds for projects across solar, green hydrogen and green ammonia.
The NTPC Green’s IPO is likely to be an issue size of Rs 10,000 crore. Notably, it would be the biggest initial share sale by a public sector company after Life Insurance Corporation (LIC). In May 2022, LIC IPO was worth Rs 21,000 crore.
NTPC share price
NTPC shares were trading at Rs 367.55 on NSE at 11:18 am on May 28, 2024. The PSU stock has given bumper returns to its shareholder in the last one year. The counter jumped rallied over 40 per cent in the past six months and more than 100 per cent in the past one year.
Brokerage firm Nuvama has exuded confidence on NTPC to maintain its market share and maintained its Buy rating on the PSU stock. It revised the target price upwards to Rs 435.
NTPC Q4 2023-24 Results
The State-owned power giant reported a 33 per cent increase in its consolidated net profit to Rs 6,490.05 crore in the Q4 of 2023-24. The PSU informed in its regulatory filing that it registered a consolidated net profit of Rs 4,871.55 crore. The total income jumped to Rs 48,816.55 crore as compared to Rs 44,744.96 crore in the same period in 2022-23. The consolidated net profit in 2023-24 increased to Rs 21,332.45 crore from Rs 17,121.35 crore in the year-ago period.
EBITDA stood at Rs 15,389.73 crore in the last quarter of 2023-24, up 23.76 per cent from Rs 12,435.22 crore in the fourth quarter of March 2023.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
NTPC is planning IPO of its green energy business by October-November this year. The issue size would be likely worth Rs 10,000 crore. NTPC share price jumped over 100 per cent in the last 1 year. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
