IPO Details
Bidding Dates
19 Nov '24 - 22 Nov '24
Minimum Investment
₹14,904 / 1 Lot (138 Shares)
Price Range
₹102 - ₹108
Maximum Investment
₹1,93,752 / 13 Lot (1794 Shares)
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 |NTPC Green Energy IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Nov 19, 2024
Closing Date
Nov 22, 2024
Basis of Allotment
Nov 25, 2024
Initiation of Refunds
Nov 26, 2024
Listing Date
Nov 27, 2024
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.
Click here to Apply for NTPC Green Energy IPO
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:
- 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.
- 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.
- 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:
- The funds will be used to repay or prepay part or all of the outstanding borrowings of NTPC Renewable Energy Limited.
- 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:
- Adani Green Energy Limited
- 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:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for NTPC Green Energy IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the NTPC Green Energy IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- 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
NTPC Green Energy IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 138 | ₹14,904 |
| Retail (Max) | 13 | 1,794 | ₹193,752 |
| S-HNI (Min) | 14 | 1,932 | ₹208,656 |
| S-HNI (Max) | 67 | 9,246 | ₹998,568 |
| B-HNI (Min) | 68 | 9,384 | ₹1,013,472 |
NTPC Green Energy IPO Reservation
NTPC Green Energy IPO Secures ₹3,960 Crore from Anchor Investors. The anchor bid for the NTPC Green Energy IPO closed on November 18, 2024. Here is the list of anchor investors for the IPO:
| Bid Date | November 18, 2024 |
| Shares Offered | 366,666,666 |
| Anchor Portion Size (In ₹ crore) | 3,960.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 23, 2025 |
NTPC Green Energy IPO Reservation
| Investor Category | Shares Offered | Percentage of Total Shares |
|---|---|---|
| Anchor Investor Shares Offered | 36,66,66,666 | 39.56 |
| QIB Shares Offered | 24,44,44,445 | 26.37 |
| NII (HNI) Shares Offered | 12,22,22,222 | 13.19 |
| bNII > ₹10L | 8,14,81,482 | 8.79 |
| sNII < ₹10L | 4,07,40,741 | 4.4 |
| Retail Shares Offered | 8,14,81,481 | 8.79 |
| Employee Shares Offered | 1,94,17,476 | 2.1 |
| Other Shares Offered | 9,25,92,593 | 9.99 |
NTPC Green Energy IPO Promoter Holding
NTPC Green Energy Limited promoters include the President of India, represented through the Ministry of Power, Government of India, along with NTPC Limited.
| Share Holding Pre-Issue | 100.00% |
| Share Holding Post Issue | 89.01% |
Key Performance Indicators (KPI) for NTPC Green Energy IPO
As of September 30, 2024, the market capitalization of NTPC Green Energy stands at ₹91,000 crore.
| KPI | Value |
| Return on Equity (ROE) (%) | 7.39 |
| Debt-to-Equity Ratio (x) | 1.91 |
| Return on Net Worth (RoNW) (%) | 2.14 |
| Price-to-Book Value (P/BV) (x) | 9.89 |
| Profit After Tax (PAT) Margin (%) | 16.2 |
NTPC Green Energy IPO Subscription Status (Bidding Detail)
| Date | QIB | NII | Retail | EMP | Other | Total |
|---|---|---|---|---|---|---|
| Day 1 (Nov 19, 2024) | 0.00 | 0.17 | 1.47 | 0.19 | 0.63 | 0.36 |
| Day 2 (Nov 21, 2024) | 0.79 | 0.30 | 2.35 | 0.38 | 0.97 | 0.92 |
NTPC Green Energy IPO Prospectus
NTPC Green Energy IPO Registrar and Lead Manager(s)
NTPC Green Energy IPO Lead Managers:
- IDBI Capital Market Services Limited,
- Hdfc Bank Limited,
- Iifl Securities Ltd,
- Nuvama Wealth Management Limited,
- Kfin Technologies Limited
NTPC Green Energy IPO News
- NTPC Green Energy’s Rs 10,000 Crore IPO
- NTPC Green Energy IPO – Key Details to Note
- NTPC Green Energy IPO: Key Financial Insights Before Subscription
- NTPC Green Energy Files Draft Papers for $1.2 Billion IPO
Registrar for NTPC Green Energy IPO:
Kfin Technologies Limited
- Contact Number: +91 40 6716 2222
- Email Address: einward.risk@kfintech.com
- Website: NTPC Green Energy IPO Registrar
NTPC Green Energy IPO Financial Details
| 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-
NTPC Green Energy is backed by the extensive experience of NTPC Limited.
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The company holds a diverse portfolio of 14,696 MW renewable projects.
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Strong credit ratings enable NTPC Green Energy to lower capital costs.
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Experienced management enhances execution capabilities and project success rates.
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NTPC Green Energy is a market leader in competitive bidding capacities.
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The company is expanding into green hydrogen and energy storage solutions.
Risks
6-
Heavy reliance on a few major customers creates revenue vulnerability.
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Supply disruptions for solar and wind components can impact operations.
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Project delays or cost overruns may affect profitability and cash flow.
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Concentration of projects in Rajasthan increases risk from local disruptions.
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Regulatory changes in tariffs could negatively impact revenue stability.
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Competition from traditional and renewable companies challenges market positioning.
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Peer Comparison
| Name of the Company | Face Value (₹ per share) | EPS (Basic) (₹) | Profit after Tax (₹ million) | RoNW (%) |
|---|---|---|---|---|
| NTPC Green Energy | 10 | 0.73 | 3,447.21 | 5.53% |
| Adani Green Energy Limited | 10 | 6.21 | 12,600 | 12.81% |
| ReNew Energy Global PLC | USD 0.0001 | 9.94 | 4,147 | 3.94% |
NTPC Green Energy IPO FAQs
NTPC Green Energy IPO is a book built issue IPO. It will be open from November 19, 2024, to November 22, 2024.
The Basis of Allotment will happen on Tuesday, Monday, November 25, 2024.
The IPO subscription window will open on November 19, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 138 shares.
The listing date for NTPC Green Energy Limited is Wednesday, November 27, 2024.
The issue size of the NTPC Green Energy IPO is up to ₹10,000 crore, with a completely fresh issue.
The open and close dates for NTPC Green Energy IPO are from November 19, 2024 to November 22, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read NTPC Green Energy’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the NTPC Green Energy IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Kfin Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
NTPC Green Energy Limited IPO is proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
