NTPC Green Energy gets Sebi nod for Rs 100 Bn IPO

29 Oct 2024 CW Team

NTPC Green Energy, a wholly-owned subsidiary of NTPC, announced on Monday that it has received final clearance from the Securities and Exchange Board of India (SEBI) to raise Rs 100 billion through an initial public offering (IPO). The company had submitted its IPO application to SEBI on 18 September 2024.

According to an official press release, the IPO, with a face value of Rs 10 per equity share, will consist entirely of a fresh issue of equity shares. The offer includes a reserved portion for eligible employees, who will receive a discount if they subscribe within the employee reservation segment.

The company further noted that Rs 75 billion from the IPO proceeds will be allocated to its subsidiary, NTPC Renewable Energy (NREL), to repay or prepay certain outstanding borrowings, either fully or partially, as well as for general corporate purposes.

As of 30 June 2024, NTPC Green’s portfolio included a total capacity of 14,696 MW, comprising 2,925 MW from operating projects and 11,771 MW from contracted and awarded projects. It also has an additional 10,975 MW of capacity in development, bringing its total pipeline to 25,671 MW.

For the three months ending 30 June 2024, the company reported revenue from operations of Rs 5.78 billion and a profit after tax of Rs 1.38 billion on a restated basis.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the lead managers for the IPO, with KFin Technologies serving as the registrar.

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