The state-owned NTPC saw a 4.34% increase in its share price on Thursday, 19 September, 2024, which marked a new all-time high of Rs 431.85 a share. 

This positive moment in the company’s shares was seen after the company’s green energy subsidiary, NTPC Green Energy Limited (NGEL), filed Initial Public Offering (IPO) papers. 

Through the public offering, the business hopes to raise about Rs 10,000 crore, or close to $1.2 billion.

In 2021, NTPC established NGEL as the special division for its energy transition and green energy initiatives. Following the failure of efforts to secure a strategic partner, the company decided to go public since overseas investors were offering valuations that were below optimal.

NTPC is thinking about investing in greener fuels made at renewable energy-powered facilities, like green methanol and green hydrogen, in addition to solar and wind power projects.

Earlier last month, the company received approval from the shareholders to raise up to Rs 12,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

The company announced in its filing,  “All resolutions proposed at the 48th Annual General Meeting were passed with requisite majority.”

The largest power utility company in India was established in 1975 and was originally known as National Thermal Power Corporation (NTPC Limited). Its fifty-five power plants produce electricity from a range of sources, such as gas, coal, wind, solar, and hydro. 

Eleven solar, two hydro, one wind, seven combined cycle gas and liquid fuel, and twenty-four coal projects are operated by the business. 

By 2032, NTPC wants to increase its renewable energy portfolio to 50% non-fossil-based capacity. The company is focusing on nuclear energy, battery storage, waste-to-energy, and green hydrogen.

Aside from trading and distributing electricity, NTPC also runs robust CSR initiatives, including comprehensive Rehabilitation & Resettlement policies. From May 2010, the Indian government awarded only four companies globally the Maharatna status.

At 12: 43 pm, the shares of NTPC were trading 3.41% higher at Rs 428.30 on NSE. 

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