NTPC Green Energy IPO: Key Dates, Price Band, and Latest Updates

State-owned NTPC Green Energy Limited is gearing up to launch its initial public offering (IPO), which opens for public subscription on Tuesday, November 19, 2024, and closes on Friday, November 22, 2024. The anchor investor bidding took place on Monday, November 18, 2024.This public issue aims to fund the company’s growth in renewable energy projects and strengthen its financial position.

About NTPC Green Energy IPO

NTPC Green Energy aims to raise ₹10,000 crore through a fresh issue of 92.59 crore shares. The price band for the NTPC Green Energy IPO is set between ₹102 to ₹108 per equity share, with a face value of ₹10 per share. Minimum lot size for investors is 138 shares, amounting to ₹14,904. 

The issue is allocated as follows: 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors. Additionally, employees can avail of a discount of ₹5 per share, with equity shares aggregating up to 20 crore reserved for them. 

The book runners for the IPO include IDBI Capital Market Services Ltd, HDFC Bank Ltd, IIFL Securities Ltd, and Nuvama Wealth Management Ltd, while Kfin Technologies Ltd is the registrar.

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About NTPC Green Energy

Incorporated in April 2022, NTPC Green Energy Limited focuses on developing renewable energy projects through organic and inorganic expansion. As of August 31, 2024, the company operates 3,071 MW of solar power and 100 MW of wind power across six states. NTPC Green Energy is currently constructing 31 renewable energy projects totaling 11,771 MW, positioning itself as a major player in India’s clean energy sector.

The proceeds from the IPO will be utilized to fund NTPC Green Energy’s wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL), for its ongoing and future projects. Additionally, the funds will help the company repay or prepay outstanding borrowings and meet general corporate purposes. With a strong pipeline of 14,696 MW of projects, the company is leveraging its parent NTPC Limited’s expertise in project execution and partnerships with stakeholders.

In Conclusion

The NTPC Green Energy IPO is a significant development in India's renewable energy landscape. It is expected to make a debut on NSE and BSE on Wednesday, November 27.With a focus on expanding clean energy capacity and leveraging the expertise of its parent company, NTPC Limited, the firm is well-positioned for growth. Investors seeking exposure to the renewable energy sector may find this IPO an attractive opportunity.