[ad_1]
Mumbai: NTPC Green Energy, a wholly-owned subsidiary of NTPC, on Monday said it has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 10,000 crore through an initial public offering (IPO).
The company had filed its IPO papers with Sebi on September 18, 2024.
According to the official press release, the IPO with a face value of Rs 10 per equity share is entirely a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.
It added that the proceeds from the fresh issue to the extent of Rs 7,500 crore will be used for investment in its wholly owned Subsidiary, NTPC Renewable Energy (NREL) for repayment or prepayment, in full or in part of certain outstanding borrowings availed by NREL, and general corporate purposes.
As of June 30, 2024, NTPC Green’s portfolio consisted of 14,696 MW including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects. Additionally, it has 10,975 MWs of capacity under pipeline, aggregating to 25,671 MWs together with its Portfolio.
Its revenue from operations has grown at a CAGR of 46.82 per cent from Rs 910.42 crore in fiscal 2022 to Rs 1,962.60 crore in fiscal 2024. Profit after tax grew at a CAGR of 90.75 per cent from Rs 94.74 crore in fiscal 2022 to Rs 344.72 crore in fiscal 2024.
For the three months period ended June 30, 2024 revenue from operations and profit after tax stood at Rs 578.44 crore and Rs 138.61 crore, respectively, on a restated basis.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers to the issue and KFin Technologies is the registrar to the offer.
[ad_2]
Source link