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NTPC to raise Rs 50 bn via stake sale in green arm
NTPC intends to raise Rs 50 billion by selling a stake in a recently established green energy division, according to the reports. SBI Capital Markets has been hired by the state-owned power generation juggernaut to provide advice on the selling process, which may formally begin in October. The Kuwaiti and Abu Dhabi sovereign wealth funds, as well as the Canadian pension funds, are situated in the Middle East.
After the infusion of capital, NTPC wants to keep the majority ownership of the arm. Given that the company has government backing, the stake sale is anticipated to generate considerable interest. Additionally, it can give investors a sense of security by guaranteeing that their projects would be supported by safe, long-term power selling agreements. NTPC reportedly did not respond to queries.
