NTPC Green Energy Gets SEBI Nod To Raise Rs 10,000 Crore Through IPO

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The IPO with a face value of Rs 10 per equity share is a fresh issue of equity shares that includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

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New Delhi: NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, on Monday said it has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 10,000 crore through an initial public offering (IPO). 

The IPO with a face value of Rs 10 per equity share is a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

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The proceeds from the fresh issue to the extent of Rs 7,500 crore will be used for investment in its wholly-owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL, and general corporate purposes, said the company.

The company had filed its IPO papers with Sebi on September 18.

NTPC Green’s portfolio consists of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects (as on June 30).

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Additionally, it has 10,975 MWs of “capacity under pipeline”, aggregating to 25,671 MWs together with its Portfolio.

NTPC Green had 15 offtakers across 37 solar projects and 9 wind projects and are in the process of constructing 31 renewable energy projects in seven states, consisting of 11,771 MWs. It also had 2,925 MWs operating across 14 solar projects and two wind projects. Its operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six states as of August 31.

NTPC Green Energy’s operational revenue grew at a CAGR of 46.82 per cent from Rs 910.42 crore in fiscal 2022 to Rs 1,962.60 crore in fiscal 2024. Profit after tax (PAT) grew at a CAGR of 90.75 per cent from Rs 94.74 crore in fiscal 2022 to Rs 344.72 crore in fiscal 2024.