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NTPC Green Energy Files ₹10,000 Crore IPO Draft

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Synopsis:

NTPC Green Energy filed for a ₹10,000 crore IPO with SEBI. The funds will be used to repay subsidiary loans and for corporate expenses. The renewable energy leader targets 60 GW capacity by 2032.

NTPC Green Energy news today

NTPC Green Energy, a subsidiary of the National Thermal Power Corporation (NTPC), has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹10,000 crore through an initial public offering (IPO). The renewable energy-focused arm of NTPC aims to utilise the funds for key business purposes, including loan repayments and corporate expenses.

NTPC LTD

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IPO structure and utilisation of funds

According to the draft red herring prospectus (DRHP), the entire ₹10,000 crore IPO will involve fresh equity shares, without an offer-for-sale (OFS) component. NTPC Green Energy plans to use ₹7,500 crore from the proceeds to repay or prepay a portion of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL). The remaining ₹2,500 crore will be allocated to general corporate purposes, helping the company strengthen its operational capabilities.

Expanding renewable energy capacity

NTPC Green Energy currently operates a significant renewable energy portfolio, with 3,071 MW of solar power and 100 MW of wind power capacity as of August 2024. These assets are spread across six Indian states, contributing to the country’s growing renewable energy landscape. The company’s expansion aligns with NTPC's long-term target of achieving 60 GW of renewable energy capacity by 2032. Presently, the group has 3.5 GW of installed capacity and an additional 28 GW under development.

Booming renewable energy market

India’s renewable energy sector is experiencing rapid growth. According to a Crisil report, India ranks fourth globally in renewable energy capacity, driven primarily by solar and wind power installations. The country’s installed renewable energy capacity surged from 63 GW in FY12 to 191 GW by March 2024, with renewable energy now making up 43% of India’s total power generation capacity.

The booming IPO market in India further strengthens the prospects for NTPC Green Energy’s public offering. With nearly 60 companies having launched IPOs this year, the renewable energy subsidiary’s entry into the market could mark a key milestone for the company and the industry.

NTPC Green Energy’s ₹10,000 crore IPO is expected to fuel the company’s expansion in the renewable energy sector. This move highlights India’s growing emphasis on sustainable energy sources, with NTPC playing a pivotal role in this transformation.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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