India's NTPC Green Energy jumps ~14% in trading debut

ACME Solar Holdings

27/11/2024 05:20

** NTPC Green Energy  NTPG.NS , the renewable energy arm of 
NTPC  NTPC.NS , gains 13.6% to 122.65 rupees on market debut
after $1.2 bln IPO
    ** Priced at 108 rupees, NTPG garnered bids worth $1.8 bln;
oversubscribed two-folds
    ** NTPG IPO biggest in India's renewable energy industry -
data aggregator Dealogic
    ** NTPC Green Energy's consistent top-line growth
encouraging, though temporary fluctuations in profitability and
margins remain a concern, says Shivani Nyati of Swastika
Investmart
    ** Co will use funds to repay its unit NTPC Renewable
Energy's debt
    ** Rival Waaree Energies  WAAN.NS  also debuted 66% higher
earlier this year, while ACME Solar  ACMO.NS  slumped 13% in
debut trade earlier this month

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))