NTPC Green Energy ₹10,000 Crore IPO Received SEBI Approval

NTPC Green Energy Ltd., the renewable energy arm of NTPC Ltd., has received the green light from the capital markets regulator SEBI to raise ₹10,000 crore through an initial public offering (IPO). The company had filed its IPO papers with SEBI earlier on September 18, 2024. 

NTPC Green Energy IPO is entirely a fresh issue of  ₹10,000 crore with a face value of ₹10 per equity share. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

NTPC Green Energy has appointed IDBI Capital Markets & Securities Limited, HDFC Bank Limited, IIFL Securities Limited and Nuvama Wealth Management Limited as the book-running lead managers while KFin Technologies Limited has been appointed as the registrar to the issue.

Objects of NTPC Green Energy IPO

The company proposes to utilise the Net Proceeds towards funding the following objects:

• Repayment/ prepayment, in full or in part of certain outstanding borrowings availed by its wholly owned subsidiary, NTPC Renewable Energy Limited.
• General corporate purposes.

About NTPC Green Energy Limited

Incorporated in 2022, NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited, a ‘Maharatna’ central public sector enterprise. The company’s renewable energy portfolio comprises both solar and wind power assets with a presence across multiple locations in more than 6 states which helps mitigate the risk of location-specific generation variability.

As of August 31, 2024, the company’s operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six (6) states. The company is strategically focused on developing a portfolio of utility-scale renewable energy projects, as well as projects for public sector undertakings (PSUs) and Indian corporations. 

As of June 30, 2024, the company’s “Portfolio” consisted of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MW of contracted and awarded projects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.