NTPC Green Energy
, NTPC’s wholly owned renewable wing received a green signal from Securities and Exchange Board of India on Monday to raise
Rs 10,000 crore
through an initial public offering.
The energy giant had filed its IPO papers with the capital market regulator a month earlier on September 18.
IPO or an initial public offering is the process through which companies raise equity capital from investors by selling their shares to the public.
This IPO offers entirely new issuance of shares and includes a reserved portion for subscriptions by eligible employees, who will receive a discount when bidding in this employee reservation segment.
The funds generated from the new share issuance, worth Rs 7,500 crore, will be utilized to invest in its wholly owned subsidiary,
NTPC Renewable Energy
(NREL), along with the repayment or prepayment and other general corporate purposes.
Backed by NTPC, NTPC Green Energy is a significant public sector enterprise in
renewable energy
(excluding hydro) based on its operating capacity and power generation capabilities.
NTPC Green’s portfolio consisted of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects, as of June 30, 2024.
Furthermore, it also houses 10,975 MWs of capacity under pipeline, aggregating to 25,671 MWs together with its portfolio.
