NTPC Green Energy IPO: Rs 10,000 cr IPO Likely in November
By Rediff Money Desk, New Delhi Sep 23, 2024 16:42
NTPC Green Energy, a subsidiary of NTPC, is set to launch its Rs 10,000 crore IPO in the first week of November. The IPO will be entirely a fresh issuance of equity shares.
New Delhi, Sep 23 (PTI) NTPC Green Energy, a subsidiary of state-owned power giant NTPC, is likely to bring its initial public offering (IPO) to raise Rs 10,000 crore in first week of November, a source said.
Last week, NTPC Green Energy had filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through IPO.
The highly placed source said the IPO is expected to be launched in first week of November this year.
The company has planned roadshows in India (Mumbai) as well as abroad, especially in Singapore, the source informed.
The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).
The company said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.
The filing comes at a time when the country's IPO market is thriving, with around 60 main board companies having launched their initial share-sale this year so far.
NTPC Green Energy is a 'Maharatna' central public sector enterprise with renewable energy portfolio, including solar and wind power assets spread across more than six states.
As of August 2024, the company's operational capacity comprised 3,071 MW from solar projects and 100 MW from wind projects.
Overall, the NTPC group aims to reach 60 GW of renewable energy capacity by 2032. Currently, it has 3.5 GW of installed capacity and over 28 GW is in progress.
India's renewable energy sector is growing rapidly. Globally, India is ranked fourth in clean energy capacity, including wind and solar installations, the draft paper said, citing a Crisil report.
The country's installed renewable energy capacity increased from 63 GW in FY12 to 123 GW in FY21 and reached about 191 GW by March 2024 (including large hydro). As of March 2024, renewable energy made up nearly 43 per cent of India's total power generation capacity, with solar energy leading this growth, it added.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue.
Last week, NTPC Green Energy had filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through IPO.
The highly placed source said the IPO is expected to be launched in first week of November this year.
The company has planned roadshows in India (Mumbai) as well as abroad, especially in Singapore, the source informed.
The initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).
The company said proceeds of the issue to the tune of Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, while a portion will be utilised for general corporate purposes.
The filing comes at a time when the country's IPO market is thriving, with around 60 main board companies having launched their initial share-sale this year so far.
NTPC Green Energy is a 'Maharatna' central public sector enterprise with renewable energy portfolio, including solar and wind power assets spread across more than six states.
As of August 2024, the company's operational capacity comprised 3,071 MW from solar projects and 100 MW from wind projects.
Overall, the NTPC group aims to reach 60 GW of renewable energy capacity by 2032. Currently, it has 3.5 GW of installed capacity and over 28 GW is in progress.
India's renewable energy sector is growing rapidly. Globally, India is ranked fourth in clean energy capacity, including wind and solar installations, the draft paper said, citing a Crisil report.
The country's installed renewable energy capacity increased from 63 GW in FY12 to 123 GW in FY21 and reached about 191 GW by March 2024 (including large hydro). As of March 2024, renewable energy made up nearly 43 per cent of India's total power generation capacity, with solar energy leading this growth, it added.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 10.41 (+ 0.48)
- 53727067
- GTL Infrastructure
- 2.41 (+ 4.78)
- 49996392
- Five-Star Business F
- 797.20 ( -1.39)
- 47756593
- Spicejet Ltd.
- 61.84 ( -0.87)
- 37121295
- Reliance Power L
- 44.16 (+ 4.99)
- 36538149
MORE NEWS
Gulf Oil Promoter Sells 4% Stake for Rs 263 Crore
Gulf Oil International Mauritius Inc. sold a 4% stake in Gulf Oil Lubricants India for...
Zaggle Acquires Stakes in Span Across IT &...
Fintech firm Zaggle invests Rs 48 crore in Span Across IT Solutions and Mobileware...
Swiggy Files Updated IPO Papers: Eyes Rs 3,750 Cr
Swiggy files updated IPO papers with Sebi, aiming to raise Rs 3,750 crore through fresh...