NTPC Green Energy, a subsidiary of NTPC Limited, has secured approval from the Securities and Exchange Board of India (SEBI) for its ₹10,000 crore initial public offering (IPO).

What Happened: The green energy firm obtained the final observation from SEBI for its IPO. The company had initially submitted its IPO papers to the regulator on September 18, 2024. “The IPO with a face value of ₹10 per equity share is entirely a fresh issue of equity shares,”.

The IPO also includes a special reservation for eligible employees, who will also receive a discount on their bids in the employee reservation portion. The company aims to use ₹7,500 crore from the issue, for investment in its wholly-owned subsidiary, NTPC Renewable Energy Limited.

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As of June 30, 2024, NTPC Green’s portfolio comprised 14,696 megawatts of projects, with an additional 10,975 megawatts of capacity under pipeline. The company’s operational capacity was 3,071 megawatts of solar projects and 100 megawatts of wind projects across six states as of August 31, 2024.

NTPC Green Energy’s revenue from operations has grown at a CAGR of 46.82% from ₹910.42 crore in FY2022 to ₹1,962.60 crore in FY24. The book-running lead managers to the issue are IDBI Capital Markets & Securities Limited, HDFC Bank Limited, IIFL Securities Limited, and Nuvama Wealth Management Limited.

In September 2024, NTPC Green Energy signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for the development of 25 gigawatts of Renewable Energy Projects.

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