The Securities and Exchange Board of India (SEBI) has given its approval for NTPC Green Energy Limited, a subsidiary of NTPC, to launch an Initial Public Offering (IPO).
NTPC Green Energy is planning to raise Rs 10,000 crore through this IPO. In September 2024, the company submitted its draft papers to SEBI for review.
Details of NTPC Green Energy’s IPO
NTPC Green Energy Limited, part of India’s largest power generation company NTPC, will offer a fresh issue of shares, meaning the company will introduce new shares without the promoter company selling its stake.
Each share in the IPO will have a face value of Rs 10, with the floor, cap, and issue prices set in consultation with the book-running lead managers (BRLM).
Out of the Rs 10,000 crore target, Rs 7500 crore will go towards debt repayment, while the remaining funds will support general corporate purposes and company expansion.
Additionally, some shares will be reserved for employees, who will receive a discount on the IPO price, and NTPC shareholders will also have reserved shares.
The listing will take place on both the NSE and BSE.
Renewable Energy Focus and Key Advisors
As a Maharatna public sector company, NTPC Green Energy is heavily involved in renewable energy, with assets across solar and wind energy sectors.
The book-running lead managers for the IPO are IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management Limited.
In addition to NTPC Green Energy’s IPO, SEBI has also approved a Rs 3,500 crore IPO for Avanse Financial Services Limited.
