Thu Sep 19 09:08:35 UTC 2024: ## NTPC Green Energy Files for IPO, Aims to Raise Up to ₹10,000 Crore

**New Delhi, India (September 18, 2024):** NTPC Green Energy, a subsidiary of the state-owned power giant NTPC, has filed draft papers with the market regulator SEBI for its initial public offering (IPO). The company aims to raise up to ₹10,000 crore (USD 1.19 billion) through the IPO, with the entire proceeds going towards the company. This move comes at a time when power companies are increasing their focus on renewable energy to meet India’s clean energy target of 500 GW by 2030.

The IPO will only involve fresh equity shares, with no existing shareholders participating in an offer for sale (OFS). The company plans to utilize the funds raised from the IPO to repay existing debt of ₹75 billion, accumulated by its unit NTPC Renewable Energy. As of June 2024, NTPC Green Energy’s total debt stood at ₹152.77 billion.

“The IPO comes at a time when thermal power-heavy NTPC is looking to diversify and increase its revenue from other energy sources,” said Kranti Bathini, director of Equity Strategy at Wealthmills Securities. “Given the growing focus on green energy in the near future, investors are likely to see this as a good opportunity.”

India’s IPO market has witnessed a strong surge this year, with around 235 companies raising over USD 8.6 billion so far, exceeding the total amount raised in 2023.

The IPO’s book-running lead managers include IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management.

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