Thu Sep 19 12:08:31 UTC 2024: ## NTPC Green Energy to Raise $1.19 Billion Through IPO
**New Delhi, India** – NTPC Green Energy, the renewable energy arm of India’s National Thermal Power Corporation (NTPC), has filed for an initial public offering (IPO) with the Securities and Exchange Board of India, aiming to raise $1.19 billion. The IPO will consist solely of fresh equity shares and will not involve any offer-for-sale component.
The company plans to utilize $947 million of the proceeds to repay or prepay outstanding loans of its subsidiary, NTPC Renewable Energy Ltd., while the remaining funds will be allocated for general corporate purposes.
The move comes amid a robust IPO market in India, where approximately 60 main board companies have launched IPOs in 2024. NTPC Green Energy boasts a diverse renewable energy portfolio encompassing solar and wind power assets across six Indian states.
As of August 2024, the company’s operational capacity includes 3.07 GW from solar projects and 100 MW from wind projects. The NTPC group has set a target to achieve 60 GW of renewable energy capacity by 2032 and currently has over 28 GW under development.
The Indian IPO market has experienced a significant boom in 2024, with 235 companies going public and raising over $8.6 billion, surpassing the total raised in the previous year.
This move reflects the increasing focus of major power producers in India on renewable energy, aligning with the government’s goal to integrate at least 500 GW of clean energy by 2030 to mitigate carbon emissions.
The book-running lead managers for the IPO are HDFC Bank, IIFL Securities, IDBI Capital Markets & Securities, and Nuvama Wealth Management.
First Piper 