New Delhi, Feb. 25 -- On 24 February, NTPC Green Energy Ltd (NGEL), the newly listed renewable-energy subsidiary of state-run NTPC Ltd, saw its worst day yet in the stock market. The stock tumbled nearly 9% to an all-time low of Rs.96.20, extending its downward trajectory since listing.

This steep decline coincided with the expiration of the three-month lock-in period for anchor investors, raising concerns about potential sell-offs. Despite NTPC retaining an 89% stake in NGEL, the release of 183.3 million shares (2% of the company's equity) into the open market triggered panic among investors.

NGEL's market performance since its initial public offering (IPO) has been anything but stellar. After debuting on 27 November at Rs.111.50 a sha...