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NTPC shares rise after three entities reject reports of IPO

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 gained a whopping 45 per cent so far this year in the Sensex, which has outperformed the Sensex with a gain of 25 per cent.

Till 3:18 pm, NTPC shares were trading at Rs 145.60, up 4 per cent.

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