State-owned NTPC Green Energy, a subsidiary of the National Thermal Power Corporation (NTPC), is gearing up for a massive ₹10,000 crore IPO set to hit the market in the first week of November 2024. According to sources cited by CNBC-TV18, this public offering is expected to attract significant attention, with roadshows planned across India and major financial hubs like London, Singapore, and the United States.
Key Highlights of NTPC Green Energy’s IPO 💡
- IPO Size: ₹10,000 crore
- IPO Date: Tentatively set for the first week of November 2024
- IPO Type: Entirely a fresh issue of equity shares, with no Offer for Sale (OFS) component
- Objective: The proceeds will be used to:
- Repay loans of NTPC Renewable Energy Ltd (NREL)
- Fund general corporate purposes
Road to the IPO
NTPC Green Energy filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 18, 2024. The company aims to leverage this IPO to fund its ambitious renewable energy projects. As the subsidiary of NTPC, a Maharatna public sector company, NTPC Green Energy already boasts a strong portfolio of solar and wind power assets across six states.
Big news from NTPC call
— Darshan Mehta (@darshanvmehta1) May 27, 2024
Green energy IPO likely in October…CLSA values this business at Rs 59 per share pic.twitter.com/EMSEwOqDVy
Green Energy Growth Goals 🌱
NTPC Green Energy’s plans are nothing short of monumental. The company currently has an installed capacity of 3.5 GW and aims to achieve a whopping 60 GW of renewable energy capacity by 2032. With 28 GW under development, the funds raised via this IPO will be crucial in meeting its ambitious green energy goals.
Book Running Lead Managers
Several financial heavyweights are involved in the process, including:
- IDBI Capital Markets & Securities
- HDFC Bank
- IIFL Securities
- Nuvama Wealth Management
With this IPO, NTPC Green Energy is looking to unlock significant value and accelerate its renewable energy expansion. Investors and market watchers are already eagerly awaiting the listing as NTPC moves closer to powering India’s renewable future.