NTPC Green Energy IPO news: The much-awaited IPO of NTPC Green Energy will be open for subscription on November 19, with the three-day window closing on November 22. The state-owned green energy company kept its IPO issue price in the range of Rs 102-108 per share, with a lot size of 138 shares. NTPC Green Energy is a wholly owned subsidiary of NTPC, whose market cap is Rs 3.69 lakh crore.
NTPC Green Energy is a sizable renewable energy public sector enterprise (excluding hydro) in terms of operating capacity and power generation. The company is offering fresh equities to the public worth Rs 10,000 crore totalling approximately 92.59 crore shares. Of the total, 75 per cent is for Qualified Institutional Buyers, 15 per cent for High Net-Worth Individuals, and 10 per cent for retail buyers.
The proceeds from the fresh issue worth Rs 7,500 crore will be used for investment in its wholly-owned subsidiary, NTPC Renewable Energy (NREL) for repayment or prepayment; capital expenditure; and other general corporate purposes.
As of June 30, 2024, NTPC Green's portfolio consisted of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects. Additionally, it has 10,975 MWs of capacity under the pipeline, aggregating to 25,671 MWs together with its portfolio.
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Over the next 6-9 years, the company plans 14 GW of pumped hydro-capacity to be commissioned versus the current installed 3.3GW. Under construction is 5.9GW and in the pipeline is 10.8 GW. The company aims to reach 60 GW of renewable capacity by 2032. In October last month, it received SEBI's nod to raise money through an initial public offering (IPO). The company had filed its IPO papers with the regulator on September 18.
(With inputs from ANI)
