The much-anticipated public issue of NTPC Green Energy will be opening on November 19 and the three-day window will close on November 22. The state-owned green energy company has fixed the issue price in the range of Rs 102-108 per share with a lot size of 138 shares.
NTPC Green Energy is offering fresh equity shares of Rs 10,000 crore aggregating approximately 92.59 crore shares. Allocation of shares is as under: QIBs-75%, HNIs-15%, Retail-10%.
The company plans to use the Rs 7,500 crore proceeds from the fresh issue for investments in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). Further, the money would be used for debt repayment or prepayment, capital expenditure, and other general corporate purposes.
NTPC Green Energy Limited, a subsidiary of NTPC, is amongst the largest renewable energy public sector enterprises in India ex-hydro in terms of operational capacity and power generation. The company portfolio as of June 30, 2024, comprised 14,696 MW comprising 2,925 MW of operational projects. And 11,771 MW of contracted and awarded projects. Further, the pipeline capacity of NTPC Green stands at 10,975 MWs making its total capacity 25,671 MW.
Additionally, the company is planning aggressive growth, with commissioning of 14 GW of pumped hydro in the next 6-9 years. That compares to 3.3 GW of installed capacity in place currently. Another 5.9 GW is under construction while a further 10.8 GW is in the pipeline. NTPC Green Energy expects its total renewable capacity to increase to 60 GW by 2032.
In late October, NTPC Green Energy also received approval from SEBI to raise money via an IPO. The firm had filed papers with SEBI regarding an IPO on September 18.
The current IPO will be a great opportunity for all investors. As NTPC Green Energy is also planning to tap this brightening renewable energy space in India.
ANI