NTPC Green Energy filed draft papers on Wednesday for a ₹100 billion ($1.19 billion) initial public offering (IPO), aiming to leverage India’s growing renewable energy sector and strong stock market performance. The IPO will consist entirely of new shares, with no existing shareholders selling their stake.
India’s IPO market has been booming, with approximately 235 companies going public this year, raising over $8.6 billion, surpassing last year’s total.
Major power producers in India, including NTPC, are heavily investing in renewable energy to expand their green energy portfolios. The Indian government is targeting the addition of 500 GW of clean energy by 2030 to reduce carbon emissions.
NTPC, traditionally reliant on thermal power, is diversifying into renewable energy to boost revenues.
Proceeds from the IPO will primarily be used to repay ₹75 billion in loans taken by NTPC Renewable Energy. As of June 2024, NTPC Green Energy’s total borrowings stood at ₹152.77 billion.
Lead managers for the IPO include IDBI Capital, HDFC Bank, IIFL Capital Services, and Nuvama Wealth Management.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.