NTPC Green Energy gets SEBI approval for ₹10,000 Crore IPO

29 Oct 2024 , 09:41 AM

NTPC Green Energy Ltd., the renewable energy unit of NTPC Ltd., has obtained final observation from capital markets regulator SEBI to raise 10,000 Crore through an IPO.

The company previously filed its IPO papers with SEBI on September 18, 2024.

The IPO with a face value of ₹10 per equity share is a new issue of equity shares. Eligible employees can also reserve a subscription through the offer, and eligible employees who bid in the employee reservation segment will receive a discount.

The ₹7,500 Crore proceeds from the latest offer will be utilised for investment in its wholly owned subsidiary, NTPC Renewable Energy Ltd. (NREL), repayment of outstanding borrowings, and general corporate purposes.

NTPC Green Energy, promoted by NTPC Ltd, is the largest renewable energy public sector firm (excluding hydro) in terms of operating capacity as of June 30, 2024 and electricity generation in Fiscal 2024, according to a CRISIL report cited in the DRHP.

According to sources, NTPC management hopes that listing NTPC Green Energy will generate significant wealth.

NTPC Green Energy is a completely owned subsidiary of NTPC.

NTPC plans to reach 60 gigawatts (GW) of renewable energy (RE) capacity by FY32. It now has 3.5 GW of installed capacity and around 28 GW in development.

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