NTPC may sell 20% stake in NTPC Green Energy, says media report

  • India Infoline News Service |
  • 15 Dec, 2022 |
  • 8:30 AM

According to news reports, NTPC Ltd., the largest power generator in India, plans to sell a 20% stake in its green energy business this fiscal year in order to collect up to Rs3,000 crore ($363.97 million).

Investors like Canada Pension Plan Investment Board (CPPIB), Malaysia's Petronas, and Brookfield are interested in the acquisition because it is the first green transaction by an Indian state enterprise.

The decision to sell 20% to strategic investors will be followed by NTPC Green Energy Ltd.'s (NGEL) initial public offering the following fiscal year, according to two of the people who talked to ET. Reportedly, they were senior government officials with firsthand knowledge of the situation.

One of India's top five businesses drawing the most foreign investment this year is the renewables sector. Data from India's commerce ministry stated that its percentage share of all inflows of foreign direct investment increased to 5% in April–September 2022 from 3.3% in the same period last year.

NTPC originally intended to raise money by selling shares to the general public. According to the third source that ET quoted, the company is now considering selling a 20% interest through a private placement first in order to establish a valuation for an IPO. The stake sale's size and the deal's value have not previously been disclosed.

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