NTPC Green IPO Sets Price Range

13 Nov 2024 , 10:11 AM

India’s NTPC Green Energy has set a price range of 102 to 108 rupees per share for its 100 billion rupee ($1.19 billion) initial public offering (IPO), which is expected to be the third-largest in the nation this year.

The initial public offering (IPO) of the renewable energy company will begin on November 19 and end on November 22. On November 18, big “anchor” investors will place bids.

The IPO by the state-owned power giant NTPC’s business opens a new tab as India ramps up capacity and places a large bet on renewable power in an attempt to meet its 2030 clean energy objective after missing a highly publicised 2022 target.

In the IPO, NTPC Green is offering fresh shares for 100 billion rupees. However, according to its draft documents, parent company NTPC is not selling any shares.

The business intends to repay debt by investing in its subsidiary, NTPC Renewable Energy, with the money raised from the IPO.

For feedback and suggestions, write to us at [e-mail]