NTPC Green Energy gets SEBI nod for Rs 10,000 crore IPO
Initial public offering (IPO) refers to the process where companies sell their shares to the public to raise equity capital from the investors.
ANI
Oct 28, 2024 20:59 IST
New Delhi [India], October 28 (ANI): NTPC Green Energy, a wholly owned subsidiary of NTPC, has received capital markets regulator Securities and Exchange Board of India (SEBI) nod to raise Rs 10,000 crore through an initial public offering (IPO).
Initial public offering (IPO) refers to the process where companies sell their shares to the public to raise equity capital from the investors.
The Company had filed its IPO papers with the regulator on September 18.
The proposed IPO is entirely a fresh issue of shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.
The proceeds from the fresh issue worth Rs 7,500 crore will be used for investment in its wholly owned subsidiary, NTPC Renewable Energy (NREL) for repayment or prepayment; and other general corporate purposes.
Promoted by NTPC, NTPC Green Energy is a sizable renewable energy public sector enterprise (excluding hydro) in terms of operating capacity and power generation.
As of June 30, 2024, 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. Additionally, it has 10,975 MWs of capacity under pipeline, aggregating to 25,671 MWs together with its portfolio. (ANI)
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