NTPC Green Energy IPO: NTPC Ltd.’s green energy division is expected to submit a draft red herring prospectus (DRHP) for stock market listing by July, sources familiar with the matter told Economic Times (ET).
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NTPC Green Energy Ltd (NGEL) has recently selected investment bankers to assist with its upcoming listing. NGEL, a subsidiary of India’s largest power producer, aims to spearhead ambitious clean energy initiatives. The company plans to establish subsidiaries and joint ventures to execute these projects.
NGEL will lead the charge in achieving NTPC’s goal of increasing renewable energy capacity by 60 GW by 2032. It is also exploring projects involving pumped hydro storage, green hydrogen, and ammonia manufacturing. The company is also actively involved in initiatives related to e-mobility and turning waste into valuable resources.
NTPC was earlier looking for a strategic partner for which it had called for interest in FY23.
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Malaysia’s Petroliam Nasional Berhad (Petronas), which had shown interest, withdrew its offer for a 20 per cent stake in the unit, according to the ET report.
Petronas had offered to buy the stake at around Rs 4,000 crore for NGEL, pipping two other companies for the stake.
NTPC aims to add 3 GW of renewable generation capacity in this fiscal, three times higher than what it added in FY24. The company and its subsidiaries have an operational renewable capacity of 3.5 GW and a pipeline exceeding 20 GW.
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This will be the second listing in two years of a government-owned company in the renewable energy sector. Last November, Indian Renewable Energy Development Agency Ltd saw its IPO being oversubscribed 38.8 times.
