NTPC Green Energy to launch IPO on Nov 19

New Delhi, The public offering of NTPC Green Energy is set to begin on Nov 19. The company is a subsidiary of public sector power generation company NTPC.

Market news

Applications can be made to buy shares of the company till Nov 22. The price of one share has been fixed at Rs 102 to Rs 108. On Nov 18, institutional investors can apply for shares worth Rs 3,960 crore. In the new share issue, 75 percent will be allocated to institutional investors; 15 percent to non-institutional investors and

10 percent to retail investors. The shares are scheduled to be listed on the stock exchanges on Nov 27.

Of the Rs 10,000 crore raised, Rs 7,500 crore will be used to pay off debt; The remaining amount will also be used for general corporate purposes.

Reserve Bank announces list of major banks

SBI, HDFC and ICICI banks have been included in the Reserve Bank's list of banks with significant domestic banking sector importance in the structure. The Reserve Bank has been ranking those banks every year since July 2014, whose losses or financial distress could threaten or affect the stability of the financial management structure. While SBI and ICICI banks were included in this list in the past 2015 and 2016, HDFC Bank also joined this list in 2017. Since then, these three banks have been included in this list continuously.

The Reserve Bank said yesterday that these three banks have been included in this year's list as well.

Ethanol blending saves Rs 91,000 crore

Bengaluru, Petroleum Minister Hardeep Singh Puri has said that the country has saved Rs 91,000 crore in crude oil import costs through blending biofuels including ethanol in petrol and diesel.

Inaugurating the 27th Energy Technology Conference in Bengaluru, he further said: India is currently in second place in the world in biofuel blending. Our country will achieve the target of 20 percent ethanol blending by next year. As oil refineries in the country are switching to green energy, the government's green ammonia project will definitely be successful.

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