Offer to sell NTPC Green Energy shares attracts significant international bidders

2 Sep 2022 , 08:14 AM

According to news reports, ArcelorMittal, Brookfield, and the Canada Pension Plan Investment Board have expressed interest in purchasing a stake in NTPC Green Energy Ltd.

One hundred percent owned by NTPC, NGEL is a subsidiary of that company.

The equity sale is a component of NTPC’s three-year goal to raise between Rs10,000 crore and Rs15,000 crore through asset monetization.

So far, more than a dozen organizations have expressed interest in purchasing stock in the company.

Expressions of interest (EoI) were requested by NGEL for a sale of a 5—10% share scheduled for June 2022. NGEL is anticipated to be valued at roughly Rs2,000 crore.

According to the reports, NGEL’s IPO will happen in FY24. They said that the corporation may eventually sell up to 26% of its stock.

The company now has 2,500 MW of renewable energy capacity, with an additional 4,000 MW planned for addition.

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