NTPC Approves Investment Worth Rs 20,922 Crore For Two Power Projects
NTPC Ltd.'s board of directors approved on Thursday a total investment of Rs 20,922 crore across two major power projects, according to exchange filings.
The board accorded investment approval for stage II (1x800 MW) of the Darlipali Super Thermal Power Project in Odisha at an estimated cost of approximately Rs 11,131 crore.
It has also accorded investment approval for the stage III (1x800 MW) of the Sipat Super Thermal Power Project at an estimated cost of Rs 9,790.9 crore in Chhattisgarh.
On Wednesday, NTPC's arm NTPC Green Energy Ltd. filed a draft red herring prospectus for an initial public offering to raise Rs 10,000 crore. The IPO will comprise an entirely fresh issue with no offer-for-sale component.
Shares of NTPC hit an all-time high before closing 2.38% higher at Rs 423.95 apiece on the NSE, compared to a 0.15 advance in the benchmark Nifty.
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