IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

₹10,000 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

About NTPC Green Energy IPO

NTPC Green Energy Ltd (NGEL), a wholly owned subsidiary of India’s leading power producer NTPC, has received approval from SEBI to launch its ₹10,000 crore IPO. The IPO will offer a fresh issue of equity shares, each with a face value of ₹10, including a reserved portion for eligible employees at a discounted rate.

Funds raised will primarily support investments in NTPC Renewable Energy (NREL), allowing NTPC Green to repay or prepay certain outstanding borrowings and fund corporate operations. With a renewable energy portfolio totalling 25,671 MW—spanning solar and wind assets—NGEL is India’s largest public sector renewable energy firm (excluding hydro) by operational capacity and generation as of June 2024, according to CRISIL.

The company's projects cover 6 states, enhancing geographical diversity and lowering risks tied to location-specific factors. By June 2024, NTPC Green’s assets included 2,925 MW of operational projects and 11,771 MW of contracted and awarded projects, plus a 10,975 MW pipeline.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers for the issue, while KFin Technologies serves as the registrar to the offer.

Industry Outlook:

  1. India's energy demand increased from 441 MT in 2000 to 880 MT in 2021, driven by urbanisation and industrialisation. This creates a growing market for renewable energy solutions.
  2. Installed renewable energy capacity in India has risen to around 191 GW as of March 2024, up from 63 GW in March 2012, accounting for approximately 43% of the total installed generation capacity.
  3. The Indian government aims for non-fossil-based energy sources to make up 45-50% of the energy mix by 2032, promoting renewable energy expansion through initiatives like railway electrification and metro projects, which are expected to significantly boost power demand.

NTPC Green Energy IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The funds will be used to repay or prepay part or all of the outstanding borrowings of NTPC Renewable Energy Limited.
  2. The remaining funds will be allocated towards general corporate purposes.

About NTPC Green Energy Limited

NTPC Green Energy Limited is a wholly owned subsidiary of NTPC Limited, a prominent 'Maharatna' central public sector enterprise. As of June 30, 2024, it stands as the largest renewable energy public sector enterprise in India, excluding hydro, based on operating capacity and power generation for the fiscal year 2024. The company’s renewable energy portfolio includes solar and wind power assets located across more than 6 states, which helps in reducing the risks associated with location-specific generation variability.

With an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects as of August 31, 2024, NTPC Green Energy focuses on developing utility-scale renewable energy projects. The company has established long-term Power Purchase Agreements (PPAs) with central and state government agencies, ensuring a steady energy supply to the grid.

As of June 30, 2024, the total portfolio comprises 14,696 MW, which includes 2,925 MW of operational projects and 11,771 MW of contracted and awarded projects. The company is currently constructing 31 renewable energy projects across 7 states, showcasing its commitment to expanding its renewable capacity.

Promoted by NTPC Limited, the company benefits from substantial support and resources, aiming to contribute significantly to India's energy transition toward cleaner renewable sources. With a strong focus on operational efficiency, advanced technologies are employed to enhance performance and maintain high standards in renewable energy production.

Peer Details

According to DRHP, the following are the listed peers of NTPC Green Energy Limited:

  1. Adani Green Energy Limited
  2. ReNew Energy Global PLC

How to Check the Allotment Status of the NTPC Green Energy IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for NTPC Green Energy IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the NTPC Green Energy IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of NTPC Green Energy IPO

  • Registered office: NTPC Bhawan, Core -7, SCOPE Complex 7 Institutional Area, Lodi Road, New Delhi, India,110003
  • Phone: +91 11 2436 2577
  • E-mail: ngel@ntpc.co.in

IPO Financials

Particulars 3 month period ended June 30, 2024 Year ending on March 31, 2024 Year ending on March 31, 2023
Revenue from Operation (in ₹ million) 5,784.42 19,625.98 1,696.90
Profit/(Loss) after tax (in ₹ million) 1,386.11 3,447.21 1,712.28
Earnings per Share (EPS) (₹) 0.24 0.73 4.66
Cash and Cash equivalents (in ₹ million) 188.37 1,156.27 727.46
EBITDA (in ₹ million) 5,419.64 18,215.29 1,523.22
Return on Equity (ROE) (%) 4.98 17.76 -
Debt-EquityRatio (%) 2.32 1.98 1.09
Total Income (in ₹ million) 6,074.19 20,376.57 1,706.31

Know before investing

Strengths

6

  1. NTPC Green Energy is backed by the extensive experience of NTPC Limited.

  2. The company holds a diverse portfolio of 14,696 MW renewable projects.

  3. Strong credit ratings enable NTPC Green Energy to lower capital costs.

  4. Experienced management enhances execution capabilities and project success rates.

  5. NTPC Green Energy is a market leader in competitive bidding capacities.

  6. The company is expanding into green hydrogen and energy storage solutions.

Risks

6

  1. Heavy reliance on a few major customers creates revenue vulnerability.

  2. Supply disruptions for solar and wind components can impact operations.

  3. Project delays or cost overruns may affect profitability and cash flow.

  4. Concentration of projects in Rajasthan increases risk from local disruptions.

  5. Regulatory changes in tariffs could negatively impact revenue stability.

  6. Competition from traditional and renewable companies challenges market positioning.

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NTPC Green Energy IPO FAQs

What is the NTPC Green Energy IPO?

NTPC Green Energy IPO is a book built issue IPO. The exact dates and price range are yet to be announced. 

When will NTPC Green Energy IPO be allotted?

The exact IPO dates and price range are yet to be announced.

When will NTPC Green Energy IPO open for subscription?

The IPO subscription window has not been announced yet.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.

When will NTPC Green Energy Limited list on exchanges?

The exact date is not announced yet.

What would be the listing gains on the NTPC Green Energy IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting an NTPC Green Energy IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for NTPC Green Energy IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of NTPC Green Energy Limited using one PAN?

You can submit only one application using your PAN card.

How to read NTPC Green Energy Limited's financial statements?

To read NTPC Green Energy’s financial statements, download the IPO’s  RHP document.