NTPC Green Energy aims for Rs 10,000 crore IPO splash

6 days ago 2

NTPC Green Energy Ltd. (NGEL) is acceptable to motorboat its highly anticipated archetypal nationalist offering (IPO) connected November 19, aiming to rise astir Rs 10,000 crore. This makes NGEL’s offering the second-largest nationalist assemblage IPO successful India, pursuing Life Insurance Corporation's (LIC) record-breaking debut past year.

The IPO highlights NTPC’s assertive propulsion towards expanding its renewable vigor portfolio, marking a cardinal milestone successful India's modulation to greenish energy.

The contented volition stay unfastened for subscription until November 22, with a terms set acceptable betwixt Rs 102 and Rs 108 per share.

IPO allocation and usage of proceeds

The IPO volition reserve 75 per cent of shares for organization investors, 15 per cent for non-institutional investors, and 10 per cent for retail investors. Eligible employees tin avail a Rs 5 discount per share, with Rs 200 crore allocated nether the worker quota. An further Rs 1,000 crore is acceptable speech for existing NTPC shareholders.

Proceeds of Rs 7,500 crore from the IPO volition beryllium utilized to put successful NTPC Renewable Energy Ltd. (NREL) for repayment of definite outstanding borrowings and for wide firm purposes.

Company outlook: Strong maturation plans successful renewable energy

NTPC Green Energy is the largest renewable vigor nationalist assemblage endeavor (excluding hydro) successful India arsenic of September 2024. The company’s portfolio includes 3 1000 2 100 and 20 megawatts (MW) of star projects and 1 100 MW of upwind projects crossed six states. It has a pipeline of implicit 13500 MW of contracted projects and different 9 1000 1 100 and seventy-five MW nether development.

The institution aims to standard its renewable vigor capableness to sixty GW by FY32, with much than twenty-eight GW presently nether development. This IPO is acceptable to beryllium the 3rd largest of the year, pursuing Hyundai Motor India's Rs 27,870 crore and Swiggy's Rs 11,300 crore issues.

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