ICICI Securities has retained its 'Buy' rating on NTPC Ltd with a target price of Rs 495 after a wholly-owned subsidiary NTPC Green Energy filed draft papers with the markets regulator SEBI for Rs 10,

This contract involves extensive engineering, procurement, and construction (EPC) work, including the supply of equipment, erection and commissioning, as well as civil works.

The NTPC shares on NSE (National stock Exchange) Thursday, September 19, NTPC's shares, the state-run power generation company, reached a record high of Rs 431.85 per share on the BSE.

Shares of NTPC jumped over 4 per cent to hit an all-time high on Thursday after NTPC Green Energy, the renewable energy arm of the firm, filed preliminary papers with capital markets regulator Sebi to raise Rs 10,

NTPC Green Energy's IPO is expected to fund NTPC's renewable energy push, including investments in solar energy, green hydrogen, and green ammonia. The IPO could be India's largest in the year 2024.

NTPC Green Energy, the renewable energy arm of the firm, filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through an Initial Public Offering (IPO).

NTPC shares soared to an all-time high of Rs 424 on BSE following NTPC Green Energy's filing for a Rs 10,000 crore IPO. The raised funds will be used to repay loans and support business purposes. The IPO includes only fresh equity shares without any Offer For Sale component.

The NTPC Green Energy IPO is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).

The company will only issue new shares and existing shareholders will not sell any stake, according to the draft papers.