NTPC Green Energy Ltd which is a wholly owned subsidiary of NTPC Ltd, is set to launch its Initial Public Offering (IPO) on Tuesday, November 19, 2024. The price band for the offer has been set at Rs 102 to Rs 108 per equity share, with a face value of Rs 10 each. The IPO will close on Friday, November 22, 2024. Investors can bid for a minimum of 138 equity shares, with further bids in multiples of 138.
This IPO is a fresh issue, raising up to Rs 10,000 crore, with no offer-for-sale. Employees bidding in the employee reservation portion will receive a discount of Rs 5 per share. The funds raised will be used primarily for investment in NTPC Renewable Energy Ltd (NREL) and to repay certain outstanding borrowings.
NTPC Green Energy is the largest public sector renewable energy company (excluding hydro) in terms of operating capacity, with 3,220 MW of solar projects and 100 MW of wind power as of September 30, 2024. The company’s revenue and profit have seen impressive growth, with a 46.82 per cent CAGR in revenue and a 90.75 per cent CAGR in profit over the last two years.
The IPO will be offered through a book-building process, with allocations for qualified institutional buyers, non-institutional investors, and retail individual investors.
