NTPC Green Energy gets SEBI nod for Rs 10,000 cr IPO
Mumbai: NTPC Green Energy Ltd, a subsidiary of NTPC Ltd, has received SEBI's final approval to raise Rs 10,000 crore through an initial public offering (IPO).
With a face value of Rs 10 per equity share, the IPO will consist entirely of fresh equity shares, with a portion reserved for eligible employees at a discounted rate.
Proceeds from the IPO will direct Rs 7,500 crore towards NTPC Renewable Energy Ltd (NREL), a wholly-owned subsidiary, to support debt repayment and general corporate purposes.
NTPC Green, promoted by NTPC Ltd, is India’s largest renewable energy public sector entity by capacity, with 2,925 MW operational and 11,771 MW contracted projects as of June 2024.
It also has 10,975 MW in the pipeline, totaling 25,671 MW across solar and wind projects in multiple states, according to a CRISIL report in the draft prospectus.
Revenue for NTPC Green grew at a compound annual growth rate (CAGR) of 46.82% from Rs 910.42 crore in FY22 to Rs 1,962.60 crore in FY24.
Profit after tax rose by 90.75% from Rs 94.74 crore to Rs 344.72 crore during the same period. For the quarter ending June 2024, the company reported a revenue of Rs 578.44 crore and profit of Rs 138.61 crore.
With ongoing projects in seven states and a mix of solar and wind energy assets, NTPC Green is strategically focused on expanding utility-scale renewable projects and supporting public sector undertakings and Indian corporations.
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