NTPC Green Energy’s ₹10,000 crore IPO: Date, details, projects, things to know

Nov 13, 2024 03:55 PM IST

The ₹10,000-crore IPO of NTPC Green Energy Limited (NGEL) will open up for subscription on November 19, 2024, with a price band of ₹102-108 per share

The ₹10,000-crore initial public offering (IPO) of NTPC Green Energy Limited (NGEL) will open up for subscription on November 19, 2024, with a price band of ₹102-108 per share.

7,500 crore from the IPO proceeds to repay debts of subsidiary NTPC Renewable Energy and the remaining for general corporate purposes(Representational Image/Pixabay)” title=”The company will use ₹7,500 crore from the IPO proceeds to repay debts of subsidiary NTPC Renewable Energy and the remaining for general corporate purposes(Representational Image/Pixabay)”>

The company will use ₹7,500 crore from the IPO proceeds to repay debts of subsidiary NTPC Renewable Energy and the remaining for general corporate purposes(Representational Image/Pixabay)

Important details of the NTPC Green Energy IPO

The public issue consists of an entirely fresh issue with no offer-for-sale (OFS) component.

It will close on November 22 and institutional investors can participate in the anchor book of up to ₹3,960 crore on November 18.

75% of the issue excluding employees’ and shareholders’ portion has been reserved for qualified institutional buyers (QIBs), 15% is reserved for non-institutional investors and the remaining 10% is for retail investors.

Also Read: Europe’s richest man sues Elon Musk’s X over not paying for using his newspapers’ content: Report

Its shares will be available for trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) from November 27, 2024.

The company will use ₹7,500 crore from the IPO proceeds to repay debts of subsidiary NTPC Renewable Energy and the remaining for general corporate purposes.

What you need to know about NTPC Green Energy

NTPC Green Energy Limited (NGEL) is a wholly owned subsidiary of NTPC, India’s largest power generation company.

The IPO will aid it in achieving its target of having 60 GW of renewable energy capacity, according to a Moneycontrol report.

It currently has 24 GW of such capacity and has been expanding aggressively in solar energy and green hydrogen. The parent company NTPC is targeting 45% of its total power generation to come from renewable energy sources by 2032.

Also Read: Swiggy invites delivery partners to ring the listing bell: ‘Sharing gratitude’

This is in line with India’s aim of adding 500 GW of renewable power by 2030 and go net zero by 2070. The report cited the power ministry as saying that India’s power generation through renewable sources was just about 20% this year.

The company has already commissioned 4 GW worth of such projects and will add 3 GW more this year according to the report. It is also building the biggest renewable energy project undertaken by any public sector undertaking in Khavda, a village in Gujarat’s Kutch district, comprising two solar projects totalling 2.45 GW.

In September, it signed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Mahatma Phule Renewable Energy and Infrastructure Technology Limited for developing 25 GW and 10 GW renewable energy projects in Rajasthan and Maharashtra, respectively.

It is also developing a green hydrogen hub at Pudimadaka in Andhra Pradesh.

Also Read: How a 21-year-old made $3.1 million this year from a side hustle she started in her garage at 16

Stay updated with the…

Copyright 2024 - All Rights Reserved - Janashakti.News

The ₹10,000-crore IPO of NTPC Green Energy Limited (NGEL) will open up for subscription on November 19, 2024, with a price band of ₹102-108 per share

Important details of the NTPC Green Energy IPO

What you need to know about NTPC Green Energy

About Us

Maharashtra Assembly elections 2024: What’s open and closed on polling day

Recent Articles

Featured

Copyright 2024 - All Rights Reserved - Janashakti.News

NTPC Green Energy’s ₹10,000 crore IPO: Date, details, projects, things to know

The ₹10,000-crore IPO of NTPC Green Energy Limited (NGEL) will open up for subscription on November 19, 2024, with a price band of ₹102-108 per share

Important details of the NTPC Green Energy IPO

What you need to know about NTPC Green Energy

ITR deadline is November 15, 2024 for these taxpayers: Check details

BJP demands closure of schools in Delhi amid alarming air pollution level

You may also like

Leave a Comment Cancel Reply

About Us

Recent Articles

Featured