The stock gained 2 per cent in trade on Tuesday.
The IPO could be in November itself as NGEL had filed its draft red herring prospectus (DRHP) in mid-September 2024.
NGEL's IPO will be for fresh issue of shares.
NTPC is targeting 60 GW of renewable energy (RE) capacity by FY32 through NGEL.
NGEL has an operational capacity of 3.2 GW, 12 GW of contracted under-construction RE projects and a development pipeline of 11 GW.
NGEL will commission 3 GW, 5 GW, and 8 GW capacities in FY25, FY26 and FY27, respectively.
NGEL is looking to set up utility-scale RE projects, and tie up with corporates for captive RE requirements.
The return ratios for captive projects may be higher than utility-scale projects.
ICICI Securities estimates revenue of ₹11,700 crore and operating profit of ₹9,500-10,000 crore for the RE portfolio.
In a sum-of-the-parts analysis, a brokerage assessed NGEL's valuation contribution at ₹91 per NTPC share.
The IPO should boost that.
This story is from the October 30, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 30, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
IndiGo stock takes off on rating upgrade
Elara Capital gives 'buy' rating after IndiGo's highest-ever traffic in November
Wait for NAV, price on exchange to converge before investing
Indian investors seeking to diversify their portfolios through overseas exchange-traded funds (ETFs) are paying a premium.
Multiple triggers for Vedanta stock
Vedanta’s stock is experiencing multiple positive triggers, primarily driven by favorable aluminium and zinc price trends. The company's demerger plans, while modified, are expected to unlock value and improve capital allocation. Key projects coming online in the next 12-18 months, including alumina refinery expansion and captive mines, are poised to significantly boost earnings.
Markets settle flat in muted trade
Benchmark indices Sensex and Nifty ended flat in listless trading on Thursday amid a lack of near-term triggers and unabated foreign fund outflows.
India Third-Best Performing Major Market in 2024
The domestic market capitalization has soared 18.4 percent to $5.18 trillion in 2024, adding $806 billion.
MP High Court stays Burmans' Religare open offer
In a strange turn of events, the Madhya Pradesh High Court's Jabalpur Bench has stayed the Burman family's open offer to acquire an additional 26 per cent stake in Religare Enterprises, and the company's annual general body meeting.
IPO Mopup Likely to Top ₹2 Trillion Mark Next Year
Fund mobilisation through initial public offerings (IPOs) will continue to rise in 2025 and the total amount is expected to breach the ₹2 trillion mark, investment banking firm Pantomath Group estimates.
Derivatives volume drops 37%
Stricter trading norms help cool off speculative activity in December so far
Indian crypto investors ride Bitcoin, altcoin wave
The majority of crypto investors in the country have invested in mainstream virtual digital assets (VDAs) such as Bitcoins, altcoins like Dogecoin, Shiba Inu, and Ethereum, followed by non-fungible tokens (NFTs) and stablecoins, a compilation of year-end reports of crypto majors CoinDCX and CoinSwitch revealed.
28% OF LS SEATS HAD NO WOMAN CANDIDATE IN 2024
The Election Commission of India on Thursday released 42 statistical reports for the Lok Sabha (LS) elections 2024.
