Thu Sep 19 11:28:22 UTC 2024: ## NTPC Green Energy to raise ₹10,000 crore through IPO

**New Delhi:** NTPC Green Energy, the renewable energy subsidiary of the state-owned power giant NTPC, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹10,000 crore through an initial public offering (IPO).

The IPO will be a fresh issue of equity shares and will not involve any offer for sale (OFS). The company plans to utilize ₹7,500 crore from the proceeds to repay existing debt of its subsidiary, NTPC Renewable Energy Limited (NREL), while the remaining amount will be used for general corporate purposes.

The IPO, which comes amidst a surge in IPO activity this year with around 60 large companies having already launched their IPOs, is expected to be one of the largest in the renewable energy sector. IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been appointed as book running lead managers for the issue.

NTPC Green Energy is a subsidiary of the Maharatna company NTPC. The company currently operates solar and wind energy assets across six states, with a total operational capacity of 3,071 MW from solar projects and 100 MW from wind projects as of August 2024. The NTPC group aims to achieve a renewable energy capacity of 60 GW by 2023, with 3.5 GW currently installed and another 28 GW under development.

The IPO comes at a time when India’s renewable energy sector is witnessing strong growth. According to a CRISIL report cited in the draft papers, India currently holds the fourth position globally in terms of renewable energy capacity.

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