NTPC Green Energy secures SEBI approval for Rs 100 billion IPO

04 Nov 2024 CW Team

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

As stated in an official press release, the IPO, with a face value of Rs 10 per equity share, consists entirely of new equity shares. The offering includes a reserved portion for subscription by eligible employees, who are also being offered a discount if they participate in the employee reservation segment.

The company further indicated that Rs 75 billion from the proceeds would be allocated to invest in NTPC Renewable Energy (NREL), its wholly-owned subsidiary, for the repayment or partial prepayment of certain outstanding loans of NREL, as well as for general corporate purposes.

As of June 30, 2024, NTPC Green's portfolio comprised 14,696 MW, including 2,925 MW of operational projects and 11,771 MW of contracted and awarded projects. It also had 10,975 MW under development, totalling 25,671 MW.

NTPC Green’s revenue from operations has grown at a compound annual growth rate (CAGR) of 46.82 per cent, rising from Rs 9.10 billion in fiscal 2022 to Rs 19.62 billion in fiscal 2024. Profit after tax also grew at a CAGR of 90.75 per cent, from Rs 940.74 million in fiscal 2022 to Rs 3.44 billion in fiscal 2024.

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