NTPC subsidiary NTPC Green Energy on Wednesday filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for a ₹10,000 crore IPO. The offer will be entirely a fresh issue of shares.
The company is a wholly owned subsidiary of NTPC, and is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity and power generation. Its renewable energy portfolio includes solar and wind power assets with presence in more than six states. NTPC Green Energy’s operational capacity as of August 31 was 3,071 MW of solar projects and 100 MW of wind projects.
The company plans to use ₹7,500 crore from the IPO proceeds to reduce the debt of its subsidiary NTPC Renewable Energy (NREL) and the rest for general corporate purposes.
IDBI Capital Markets, HDFC Bank, IIFL Securities and Nuwama Wealth Management are the issue bankers.
(You can now subscribe to our ETMarkets WhatsApp channel)