- Reserve Bank of India prepares to file for insolvency proceedings against SREI Infrastructure Finance and SREI Equipment Finance
- RBI has finalised an administrator to be appointed at the two firms
- RBI to first suspend boards of the companies and appoint the administrator, before initiating insolvency proceedings
NTPC Is Said To Plan IPOs Of Three Units Including Renewables Business; Shares Advance
Shares of NTPC Ltd. rose over 3% to Rs 144.2 apiece after reports hinted at the company’s plans to raise Rs 15,000 crore through IPOs of three units including its renewables business.
The state-run generator intended to sell shares in NTPC Renewable Energy Ltd within a year, according to the report. NTPC is said to be planning a listing of hydropower North Easter Electric Power Corp., and power trading arm NTPC Vidyut Vyapar Nigam Ltd, by early 2024. It is also looking to sell its stake in NTPC-SAIL Power Co.
Of the 27 analysts tracking the company, 24 maintained ‘buy’ and three maintained ‘hold’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 1%.
