IPO
The initial public offering (IPO) of NTPC’s green energy arm NTPC Green Energy will come on November 19. The company has fixed the price range for the IPO at Rs 102-108 per share. NTPC Green Energy Chairman and Managing Director Gurdeep Singh gave this information on Wednesday. During the promotion for the IPO, he said that the company is planning to invest up to Rs 1 lakh crore in solar and wind energy by the financial year 2026-27. He said that about 20 percent of this investment will come from equity. Apart from this, funds of Rs 10,000 crore will come through initial public offering (IPO). The company will raise the remaining amount from internal accruals.
Preparation to enter these new sectors
The installed capacity of NTPC Green Energy is currently 3,220 MW. The company plans to increase it to 6,000 MW by March 2025 and 11,000 MW by 2026. The company’s IPO will open on November 19 and close on November 22. In this the company is bringing a fresh issue of Rs 10,000 crore. The price range for this is between Rs 102 to Rs 108. Singh said that NTPC Green Energy does not want to limit itself to just power generation. The company has also prepared plans for green hydrogen, pumped storage electricity and energy storage.
offering entirely new shares
According to the IPO documents, the company’s issue will be entirely based on offer of new shares and will not include any offer for sale (OFS). NTPC Green Energy is a ‘Maharatna’ Central Public Sector Enterprise. It has a renewable energy segment, which includes solar and wind energy assets spread across more than six states. The company had filed its IPO documents with SEBI between July and September. According to the documents, the IPO of NTPC Green Energy is an entirely new shares issue. The company will use the IPO proceeds to repay debt and for general corporate purposes.
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