Shares of the renewable-energy arm of top Indian power producer NTPC Ltd. are set to start trading Wednesday after a $1.2 billion offering, testing investor appetite for one of the biggest listings before the year-end.

Shares of NTPC Green, which launched its initial public offering (IPO) for public subscription from November 19 to November 22, debuted on the stock exchange today at a 3.2% premium over IPO price. The stock debuted at Rs 111.

NTPC Green Energy shares rose in their trading debut after it raised more than $1 billion in its initial public offering, becoming the latest Indian company to tap a buoyant equity market. Shares were recently at 122.

(Reuters) -Shares of India's NTPC Green Energy, the renewable energy arm of power producer NTPC surged 11.9% in trading debut on Wednesday as investors bet on the country's growing clean energy needs.

NTPC Green Energy's shares soared 14% on their trading debut, exceeding the target valuation. Driven by India's clean energy demand, the stock reached ₹121.35, up from the IPO price of ₹108. Experts view this as a promising long-term investment opportunity in the renewable energy sector,

A day ahead of its stock market debut, NTPC Green Energy launched a 50:50 joint venture with the State-run Maharashtra State Power Generation Company Limited. Shares closed lower on Tuesday's market before the announcement.