Mumbai: NTPC Green Energy, a wholly-owned subsidiary of NTPC, is set to open its initial public offer (IPO) on 19 November 2024 and has fixed the price band at Rs 102 to Rs 108 per equity share of face value Rs 10 each for its maiden.
The IPO will close on 22 November, 2024. Investors can bid for a minimum of 138 equity shares and in multiples of 138 equity shares thereafter, added the official press release.
It said that the IPO is entirely a fresh issue of up to Rs 10,000 crore with no offer for sale component. The company has reserved Rs 200 crore worth of shares for its employees. The eligible employees will get these shares at a discount of Rs 5 per share to the final issue price.
Further, Rs 1,000 crore worth of shares are reserved for shareholders. The proceeds from its fresh issuance will be utilised to the extent of Rs 7,500 crore for investment in its wholly-owned subsidiary, NTPC Renewable Energy for repayment and prepayment, in full or in part of certain outstanding borrowings availed by NREL and general corporate purposes.
NTPC Green Energy is the largest renewable energy public sector enterprise in terms of operating capacity as of September 30, 2024 and power generation in Fiscal 2024, according to a CRISIL Report, November 2024.
Its operational capacity was 3,220 MW of solar projects and 100 MW of wind projects across six states as of 30 September 2024.
For the six months ended September 30,2024, revenue from operations stood at Rs 1082 crore and profit after tax stood at Rs 175.30 crore.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers and KFin Technologies is the registrar of the offer.
