Shares of NTPC jumped over 4 per cent to hit an all-time high on Thursday after NTPC Green Energy, the renewable energy arm of the firm, filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through an Initial Public Offering (IPO).
The stock climbed 4.34 per cent to Rs 431.85 -- its record high -- on the BSE.
At the NSE, it surged 4.27 per cent to Rs 431.85 -- the all-time high.
The initial share-sale is entirely a fresh issuance of equity shares with no Offer For Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
The renewable energy firm said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.
NTPC Green Energy is a 'Maharatna' central public sector enterprise with renewable energy portfolio, including solar and wind power assets.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue.
