NTPC Shares Gain After Denying Report Of IPOs Of Three Units

Shares of the state-run thermal power plant operator NTPC rose as much as 6.79 per cent to hit an intraday high of Rs 149 after the company denied report of coal power giant planning to raise Rs 15,000 crore via initial public offering (IPO) in three units. News agency Bloomberg reported in the morning that NTPC is planning share sale via IPO in three units including its renewables business, and the paring of a joint venture stake.

Bloomberg citing an unnamed official reported that the state-run power producer plans to sell shares in NTPC Renewable Energy within a year. A listing of hydropower unit North Eastern Electric Power Corp., which it bought last year, and power trading arm, NTPC Vidyut Vyapar Nigam Ltd., are planned for early 2024.

NTPC shares have so far this year advanced a whopping 45 per cent massively outperforming the Sensex which has advanced 25 per cent.

As of 3:18 pm, NTPC shares traded 4 per cent higher at Rs 145.60.