<p>Shares of India's NTPC Green Energy , the renewable energy arm of power producer NTPC surged 11.9 per cent in trading debut on Wednesday as investors bet on the country's growing clean energy needs.</p>.<p>The stock last traded at 120.81 rupees as of 10:14 am IST, compared to its offer price of 108 rupees, giving it a valuation of 1.02 trillion rupees ($12.08 billion).</p>.<p>NTPC Green's $1.2 billion IPO garnered bids worth $1.8 billion last week and was oversubscribed by two times, as investors flocked to the rapidly-expanding sector amid the government's push to increase the usage of renewable energy.</p>.NTPC Green's $1.2 billion IPO fully subscribed on final day as India bets on renewable energy.<p>As per Moody's Ratings, India needs investments worth $385 billion in reneweable energy by 2030 to meet the government's target. Strong demand also helped a 66% surge in peer Waaree Energies' debut trade earlier this year.</p>.<p>NTPC Green's IPO is the biggest in the country's renewable energy industry, as per Dealogic data. As of Nov. 13, close to 300 companies have raised more than $15.5 billion in Indian IPOs this year, as per LSEG data.</p>.<p>The amount raised from IPOs this year is nearly double the $7.4 billion raised in 2023.</p>.<p>NTPC Green plans to use proceeds from the share sale to repay its unit NTPC Renewable Energy's debt, with parent NTPC not diluting their stake, draft papers showed.</p>
<p>Shares of India's NTPC Green Energy , the renewable energy arm of power producer NTPC surged 11.9 per cent in trading debut on Wednesday as investors bet on the country's growing clean energy needs.</p>.<p>The stock last traded at 120.81 rupees as of 10:14 am IST, compared to its offer price of 108 rupees, giving it a valuation of 1.02 trillion rupees ($12.08 billion).</p>.<p>NTPC Green's $1.2 billion IPO garnered bids worth $1.8 billion last week and was oversubscribed by two times, as investors flocked to the rapidly-expanding sector amid the government's push to increase the usage of renewable energy.</p>.NTPC Green's $1.2 billion IPO fully subscribed on final day as India bets on renewable energy.<p>As per Moody's Ratings, India needs investments worth $385 billion in reneweable energy by 2030 to meet the government's target. Strong demand also helped a 66% surge in peer Waaree Energies' debut trade earlier this year.</p>.<p>NTPC Green's IPO is the biggest in the country's renewable energy industry, as per Dealogic data. As of Nov. 13, close to 300 companies have raised more than $15.5 billion in Indian IPOs this year, as per LSEG data.</p>.<p>The amount raised from IPOs this year is nearly double the $7.4 billion raised in 2023.</p>.<p>NTPC Green plans to use proceeds from the share sale to repay its unit NTPC Renewable Energy's debt, with parent NTPC not diluting their stake, draft papers showed.</p>