According to the circular, the company has allotted 36.66 crore equity shares to 107 funds at Rs 108, which is also the upper end of the price band. This brings the transaction size to Rs. 3,960 crores.
Rs. 10,000 crore initial share-sale is a fresh issue of equity shares without an outright offer for sale (OFS) component. per share Rs. 102 to Rs. The issue with a price band of 108 will be available for public subscription from November 19 to 22.
IPO to Rs. 7,500 crore of proceeds will be used to repay or prepay part or all of the outstanding loans of its subsidiary NTPC Renewable Energy Limited (NREL) and a further part will be used for general corporate purposes.
NTPC Green Energy is a ‘Maharatna’ central public sector enterprise with a renewable energy portfolio including solar and wind power assets spread over six states.
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As of August 2024, the company’s operational capacity includes 3,071 MW from solar projects and 100 MW from wind projects in six states.
Overall, the NTPC group aims to reach 60 GW of renewable energy capacity by 2032. Currently, it has 3.5 GW of installed capacity and over 28 GW in progress.
India’s renewable energy sector is growing rapidly. Globally, India ranks fourth in renewable energy capacity, including wind and solar installations, the draft paper cited a CRISIL report.
The country’s installed renewable energy capacity increased from 63 GW in FY 2012 to 123 GW in FY 2021, reaching around 191 GW by March 2024 (including large hydro). By March 2024, renewable energy will account for about 43 percent of India’s total power generation capacity, with solar power leading the growth, it added.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities and Nuwama Wealth Management are the lead managers of the issue.
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