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NTPC Green Energy Ltd

Power Generation & Distribution

Offer Period :

19th to 22nd Nov 2024

NTPC Green Energy Ltd IPO Details

IPO Date 19th to 22nd Nov 2024 Minimum Investment ₹14904 / 1 Lots
Listing Date 2024-11-27 Maximum Investment ₹193752 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹10000 Crores
Price ₹108 to ₹108 per share Fresh Issue ₹10000 Crores
Lot Size 1 Lots (138 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹5 per share    
IPO Date 19th to 22nd Nov 2024
Listing Date 2024-11-27
Face Value ₹10 per share
Price ₹108 to ₹108 per share
Lot Size 1 Lots (138 Shares)
Listing At BSE, NSE
Employee Discount ₹5 per share
Minimum Investment ₹14904 / 1 Lots
Maximum Investment ₹193752 / 13 Lots
Total Issue Size ₹10000 Crores
Fresh Issue ₹10000 Crores
Offer For Sale
Retail Discount ₹ 0

About NTPC Green Energy Limited

NTPC Green Energy Limited, founded in April 2022, operates as a fully owned subsidiary of NTPC Limited, dedicated to the advancement of renewable energy. The company engages in renewable energy projects through both organic and inorganic strategies, aiming to play a pivotal role in India's transition to green energy. By August 31, 2024, NTPC Green Energy had achieved a substantial operational capacity, with 3,071 MW derived from solar energy projects and an additional 100 MW from wind power projects, spread across six different states, reflecting its growing impact in the renewable sector. As of June 30, 2024, NTPC Green Energy's portfolio stood at an impressive 14,696 MW, which included 2,925 MW from operational projects and 11,771 MW from contracted and awarded initiatives.

The company had secured agreements with 15 off-takers across 37 solar and 9 wind energy projects, ensuring a steady and long-term demand for its renewable energy output. In addition, NTPC Green Energy is actively developing 31 renewable energy projects across 7 states, with a total planned capacity of 11,771 MW, further demonstrating its commitment to expanding its renewable energy capacity.

The company’s competitive edge is significantly enhanced by its association with NTPC Limited, a well-established leader in large-scale project implementation. NTPC Green Energy benefits from its parent company's strong relationships with off-takers and suppliers and its robust financial position. Furthermore, the company is supported by a skilled team with deep expertise in renewable energy project execution. As of June 30, 2024, NTPC Green Energy employed 234 professionals and 45 contract laborers, all working together to drive the company’s mission of expanding India's renewable energy landscape.

Timeline

Important dates for allocation and IPO listing.

19th Nov

IPO Starts

22nd Nov

IPO Ends

25th Nov

Allotment Date

26th Nov

Initiation of Refund

26th Nov

Credit of Shares to Demat Account

27th Nov

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 100 89
Public Group 0 11

NTPC Green Energy Ltd IPO Reservation

QIB Shares Offered 244714130(26.4%)
NII (HNI) Shares Offered 122357064(13.2%)
Retail Shares Offered 81571380(8.8%)
Anchor Investor Shares Offered 367071200(39.61%)
Total Shares Offered 926824896
Total Shares With Anchor Investor 926824896

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

NTPC Green Energy Ltd IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id einward.risk@kfintech.com
Our Website www.kfintech.com

NTPC Green Energy Ltd IPO Lead Manager

1. IDBI Capital Markets & Securities Ltd

2. HDFC Bank Ltd

3. IIFL Securities Ltd

4. Nuvama Wealth Management Ltd

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NTPC Green Energy Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 24,44,44,445 19,29,94,794 50.0
Non Institutional Investors (NIIs) 12,22,22,222 4,81,26,258 5,707.0
Non Institutional Investors (Bid amount of more than Ten Lakh Rupees) 8,14,81,482 1,93,56,156 16,05,967.0
Non Institutional Investors (Bid amount of more than Two Lakh and upto Ten Lakh Rupees) 4,07,40,741 2,87,70,102 16,05,967.0
Retail Individual Investors (RIIs) 8,14,81,481 21,75,55,482 4,45,303.0
Employee Reserved 1,94,17,476 93,23,004 0.0
Reservation PortionShareholder 9,25,92,593 10,52,82,684 50.0
Total 56,01,58,217 57,32,82,222 16,05,967.0

Strength of NTPC Green Energy Ltd

1. We are promoted by NTPC Limited, which has a legacy of around five decades, is one of India's largest power companies, and has experience in operating and maintaining power stations efficiently and in acquiring land for large power projects throughout India.

2. As of September 30, 2024, our Portfolio consisted of 16,896 MWs including 3,320 MWs operating projects and 13,576 MWs projects contracted and awarded. We are in the process of constructing 36 renewable energy projects in 6 states consisting of 13,576 MWs, contracted and awarded.

3. We along with the NTPC Group have a strong track record of developing, constructing and operating renewable power projects, driven by our experienced in-house management and procurement teams. Our superior execution capabilities are demonstrated by 5 decades of successful operations by NTPC Limited.

4. With strong parent support and diversified portfolio with long term PPA, the Company is able to maintain a healthy interest coverage ratio. (Source: CRISIL Report, November 2024). As of September 30, 2024 and March 31, 2024, our interest coverage ratio was 2.60 times and 2.64 times (on a restated basis), respectively, and, as of March 31, 2023 and March 31, 2022, was 2.80 times and 3.17 times (on a special purpose carvedout basis), respectively.

5. We benefit from a strong balance sheet and AAA rating from CRISIL as of May 8, 2024. We believe that our ability to leverage the NTPC Group's outstanding credit and its long-term relationships with financial institutions will continue to provide us with access to a low cost of capital.

6. Our senior management team led by the Board of Directors, have decades of experience in the Indian power industry.

Risks Involved

1. There is a concentrated pool of utilities and power purchasers for electricity generated by its plants and projects. Accordingly, the company derived a significant portion (more than 87%) of its revenue from operations from the company top five offtakers in Fiscal 2024, with its single largest offtaker contributing around 50% of the company's revenue from operations in Fiscal 2024. Loss of any of these customers or a deterioration of their financial condition could adversely affect its business, results of operations and financial condition.

2. Its business and profitability is substantially dependent on the availability and cost of solar modules, solar cells, wind turbine generators and other materials, components and equipment for its solar, wind and other projects. The company is dependent on third party suppliers for meeting its materials, component and equipment requirements, and its top 10 suppliers accounted for 92.65% and 77.71% of the company supplies in the six months period ended September 30, 2024 and in Fiscal 2024, respectively. Any disruption to the timely and adequate supply, or volatility in the prices of required materials, components and equipment may adversely impact its business, results of operations and financial condition.

3. The company renewable energy project construction activities may be subject to cost overruns or delays which may adversely affect its business, results of operations, financial condition and cash flows. Further, its future growth is significantly dependent on successfully executing its contracted and awarded projects. In the event, the company is not successful in executing its contracted and awarded projects, the company's business, results of operations and financial condition may be adversely impacted.

4. In the six months period ended September 30, 2024 and in Fiscal 2024, 62.20% and 61.74%, respectively, of its operating renewable energy projects are concentrated in Rajasthan. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in Rajasthan could have an adverse effect on its business, results of operations and financial condition.

5. Its Special Purpose Carved-Out Combined Financial Statements and Carved-Out Operating Data for Fiscal 2023 and Fiscal 2022 may not be representative of its results as an independent company.

6. Its Power Purchase Agreements may expose it to certain risks that may adversely affect the company's business, results of operations and financial condition. In addition, the company is required to give performance bank guarantees guaranteeing the commencement of supply of power which could adversely affect its results of operation if invoked. Further, the company revenue from operations are exposed to fixed tariffs, changes in tariff regulation and structuring.

7. The acquisition of the purchased renewable energy assets is subject to certain post closing actions, which are currently in the process of being fulfilled. Any failure to fulfil the post-closing actions may reduce the anticipated benefits of the acquisition, may impose limitations or costs on the Company or result in a material adverse effect on the business, results of operations, financial condition and prospects of the Company.

8. The company intend to use a majority of its Net Proceeds from the Issue towards the repayment or prepayment, in full or in part, of certain outstanding borrowings availed by its wholly owned Subsidiary, NTPC Renewable Energy Limited.

9. The company is dependent on its relationship with its Corporate Promoter, NTPC Limited, and any adverse developments in such relationship may adversely affect its business and reputation.

10. The company has incurred substantial indebtedness, and an inability to comply with repayment and other covenants in its financing agreements could adversely affect the company's business and financial condition.

Industry Outlook of NTPC Green Energy IPO

- Renewable energy has emerged as a key sector within India's energy landscape, reflecting consistent growth and transformation.
 

- India ranks fourth globally in terms of total renewable energy capacity, including wind and solar installations, highlighting its strong commitment to clean energy solutions (Source: CRISIL Report, November 2024).
 

- The installed capacity of renewable energy sources, including large hydro projects, has grown from approximately 63 GW in March 2012 to about 201 GW by September 2024 (Source: CRISIL Report, November 2024).
 

- By September 2024, grid-connected renewable energy made up around 45% of India's total installed generation capacity.
 

- Solar energy has driven much of this expansion, reflecting India's focus on diversifying its energy mix and reducing its carbon footprint..
 

- This growth aligns with global efforts to promote sustainable energy, positioning the country as a leader in renewable power deployment and innovation.
 

Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for NTPC Green Energy IPO

Why should you invest in

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Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023
Total Assets 27206.42 18431.39
Total Liabilities 27206.42 18431.39
Total Expenses 1549.46 118.09
Total Revenue 
2037.66 170.63
Profit After Tax 344.71 171.22
EBITDA 1821.53 152.32
Adjusted EBITDA 0 0

NTPC Green Energy Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-11-27 544289 NTPCGREEN
INE0ONG01011
₹108 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹108 ₹108
Open ₹111.6 ₹111.5
Low ₹111.6 ₹111.5
High ₹122.75 ₹122.65
Low ₹111.6 ₹111.5

Frequently Asked Questions

What is NTPC Green Energy Ltd IPO?

Answer Field

NTPC Green Energy Ltd IPO is a Mainboard IPO of 92,68,24,896 equity shares of a face value of ₹10 aggregating up to ₹10000 Crores. The issue is priced at ₹108 to ₹108 per share. The minimum order quantity is 138 Shares. The IPO opens on November 19, 2024, and closes on November 22, 2024. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When NTPC Green Energy Ltd IPO will open?

Answer Field

The NTPC Green Energy Ltd IPO opens on November 19, 2024 and closes on November 22, 2024.

What is the lot size of NTPC Green Energy Ltd?

Answer Field

NTPC Green Energy Ltd lot size is 138 shares, and the minimum amount required is ₹14,904.

How to apply for NTPC Green Energy Ltd IPO?

Answer Field

You can apply in NTPC Green Energy Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is NTPC Green Energy Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for NTPC Green Energy Ltd IPO will be done on November 25, 2024, and the allotted shares will be credited to your demat account by November 26, 2024.

When is NTPC Green Energy Ltd IPO listing date?

Answer Field

The NTPC Green Energy Ltd listing date is November 27, 2024.

Who is the registrar of NTPC Green Energy Ltd IPO?

Answer Field

The registrar of NTPC Green Energy Ltd IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

IDBI Capital Markets & Securities Ltd,HDFC Bank Ltd,IIFL Securities Ltd,Nuvama Wealth Management Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of NTPC Green Energy Ltd IPO?

Answer Field

The fresh issue size is ₹10000 Crores equity shares.

What minimum lot size can retail subscribers subscribe to NTPC Green Energy Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 138 shares and ₹14,904 amount.

How can I approve the UPI mandate request for NTPC Green Energy Ltd IPO?

Answer Field

To apply for NTPC Green Energy Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of NTPC Green Energy Ltd?

Answer Field

The price of each NTPC Green Energy Ltd share will be ranging in between ₹108 to ₹108 per share.

What is the cut-off time for the UPI mandate for NTPC Green Energy Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, November 22, 2024.

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