NTPC Green Energy to Launch ₹10,000 Crore IPO in November 2024

24 Sep 2024 , 05:52 PM

NTPC Green Energy, the renewable arm of NTPC, is set to launch its initial public offering (IPO) in the first week of November 2024. The company is organizing roadshows across various locations, including Mumbai, London, the US, Singapore, and other regions to attract potential investors.

Last week, NTPC Green Energy filed preliminary documents with SEBI to raise ₹10,000 Crore through the IPO. The IPO will consist entirely of fresh equity share issuance, without any offer-for-sale (OFS) component.

Out of the total proceeds, ₹7,500 Crore will be used to repay or prepay loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while the remaining amount will cover general corporate expenses.

NTPC management is aiming to unlock significant value through the listing of NTPC Green Energy, as confirmed by sources to CNBC-TV18.

In a prior interview, Mohit Bhargava, CEO of NTPC Green Energy, emphasized the need for raising equity to fuel growth, either through internal funds or by tapping the market.

NTPC Green Energy, a wholly-owned subsidiary, currently has 3.5 GW of installed renewable capacity, with over 28 GW under development, targeting 60 GW by FY32. IDBI Capital Markets, HDFC Bank, IIFL Capital Services, and Nuvama Wealth Management are the lead managers for the IPO.