NTPC Green Energy shares fall over 6% as shareholder lock-in ends
Shares of NTPC Green Energy Ltd,
the recently listed subsidiary of NTPC, crashed over 6 percent to Rs
99.18 in morning trade on February 24, extending losses for a second
session as its three-month shareholder lock-in period came to an end.
According to Nuvama Alternative & Quantitative Research, nearly
18.33 crore shares, representing 2 percent of the company’s outstanding
equity, will become eligible for trading. However, the end of the
lock-in does not necessarily mean all these shares will hit the
market—it simply allows existing shareholders the option to sell.
NTPC continues to hold an 89 percent stake in NTPC Green Energy
following its partial divestment during the IPO.
NTPC Green Energy
posted a strong 52.3 percent jump in net profit for the quarter, with
profit after tax (PAT) rising to Rs 89.4 crore from Rs 58.7 crore in the
same period last year. The renewable energy firm’s revenue grew 4.1
percent year-on-year to Rs 460.9 crore, compared to Rs 442.6 crore in Q3
FY24.
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