Shares of state-run thermal power plant operator NTPC surged 6.79 per cent to hit an all-time high of Rs 149 after the company denied the company’s report of raising Rs 15,000 crore through initial public offering (IPO) . Units News agency Bloomberg reported in the morning that NTPC is planning to sell shares through IPO in three units, including its renewable business, and a joint venture stake paring.
The state-run power producer is planning to sell shares in NTPC Renewable Energy within a year, Bloomberg quoted an unnamed official as saying. A list of hydropower arm North Eastern Electric Power Corp., which it bought last year, and power trading arm, NTPC Vidyut Vyapar Nigam Limited, are planned for early 2024.
Shares of NTPC have outperformed the Sensex with a massive 45 per cent rise so far this year, with a 25 per cent gain in the Sensex.
Till 3:18 pm, NTPC shares were trading at Rs 145.60, up 4 per cent.