NTPC Green sets the price band for its INR 10,000 crore public issue

NTPC Green Energy intends to utilize the net proceeds from the fresh issuance to the extent of INR 7,500 crore for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by its wholly owned subsidiary, NTPC Renewable Energy Ltd (NREL). The balance will go towards general corporate purposes.

November 13, 2024 Uma Gupta

Image: NTPC

NTPC Green Energy Ltd, the green energy arm of NTPC, has fixed the price band for its INR 10,000 crore initial public offering at INR 102-108 per share. The IPO is a fresh issue of shares with no Offer For Sale (OFS) component.

The IPO will open for subscription on Nov. 19 and close on Nov. 22.

Up to 75% of the issue is reserved for qualified institutional investors, 15% for non-institutional bidders, and 10% for retail individual bidders.

NTPC Green generates revenue by the sale of solar and wind power under power purchase agreements with Indian government agencies and public utilities. Its renewable energy portfolio encompasses solar and wind power assets with an operational capacity of 3,220 MW of solar projects and 100 MW of wind projects across six states as of September 30, 2024

The company intends to utilize the net proceeds from the fresh issuance to the extent of INR 7,500 crore for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by its wholly owned subsidiary, NTPC Renewable Energy Ltd (NREL), with the balance going towards general corporate purposes.

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