NTPC Green shares plunges over 8%, falls below Rs 100-mark as share lock-in period ends
With today's decline, NTPC Green stock has corrected 38 percent from its 52-week high of Rs 155.30, touched on December 4, 2024. The company made its stock market debut on November 27, 2024.
NTPC Green shares plunges over 8, falls below Rs 100 mark as share lock in period ends
For the first time, the share price of NTPC Green Energy (NGEL) struck a new low in the stock market today, dropping below the Rs 100 threshold. In Monday's intraday trade, the share price of NTPC Green plummeted to an all-time low of Rs 96.20, a 9 percent decline on the BSE, amid high volumes, as the shareholder lock-in period concluded today.
The state-owned power generation company's stock declined below its previous low of Rs 102.60, which was achieved on February 17, 2025. At present, it is trading at a discount of 11% to its issue price of Rs 108 per share.
A total of 183 million shares, which account for 2% of the company's outstanding equity, became eligible for trade as the lock-in period for NTPC Green Energy shares expired today, February 24, 2025.
Nevertheless, investors don't need to dispose of all eligible shares in the open market; the lock-in expiration solely permits the trading of such shares.
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As of December 31, 2024, 100 percent of NGEL's promoters (who hold an 89.01 percent stake) were in the lock-in shareholding pattern data showed. Out of total public shareholding (10.99 percent), 19.79 percent of shares were in the lock-in.
With today's decline, NTPC Green stock has corrected 38 percent from its 52-week high of Rs 155.30, touched on December 4, 2024. The company made its stock market debut on November 27, 2024.
At 11:04 AM, the stock was trading 8 percent lower at Rs 97.20 as compared to a 1 percent decline in the BSE Sensex.
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