NTPC Green Energy Files Draft Red Herring Prospectus for INR 10,000 Cr IPO
The NTPC Green Energy IPO will be a completely a fresh issue of equity shares with face value of INR 10 each, aggregating up to INR 10,000 Crore. There will be no offer-for-sale (OFS) component.
September 19, 2024. By Mrinmoy Dey
According to the DRHP, the proposed IPO is completely a fresh issue of equity shares with face value of INR 10 each. It further clarified that there will be no offer-for-sale (OFS) component.
Of the total IPO proceeds, INR 7,500 crore will be used to repay debts of its wholly owned subsidiary NTPC Renewable Energy Ltd. A part will also be used for general corporate purposes.
IDBI Capital Markets & Securities Ltd., HDFC Bank Ltd., IIFL Securities Ltd. and Nuvama Wealth Management Ltd. are book running lead managers. KFin Technologies Ltd. is the registrar.
Citing a September 2024 CRISIL Report, the company claimed to be the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of June 30, 2024 and power generation in Fiscal 2024.
The company’s renewable energy portfolio encompasses solar and wind power assets with presence across multiple locations in more than six states which helps the company mitigate the risk of location-specific generation variability.
According to the DRHP, the company’s operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six states as of August 31, 2024. Further, the NTPC group intends to reach 60 GW of renewable energy capacity by 2032. It has an installed capacity of 3.5 GW and over 28 GW in progress.
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