NTPC Green IPO Opens For Subscription On 19 Nov; Issue Price Rs 102-108
The company offers fresh equities to the public worth Rs 10,000 crore totalling approximately 92.59 crore shares
The much-awaited public issue of NTPC Green Energy will be open for subscription this 19 November, with the three-day window closing on 22 November.
The state-owned green energy company kept the initial public offering (IPO) issue price at the range of Rs 102 to 108 per share, with a lot size of 138 shares.
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.
Promoted by NTPC, NTPC Green Energy is a sizable renewable energy public sector enterprise (excluding hydro) in terms of operating capacity and power generation.
As of 20 June 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.
Over the next six to nine 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 late October, NTPC Green Energy, a wholly owned subsidiary of NTPC, received capital markets regulator Securities and Exchange Board of India (Sebi) nod to raise money through an initial public offering (IPO). The company had filed its IPO papers with the regulator on 18 September. (ANI)
