Thu Sep 19 09:08:27 UTC 2024: ## NTPC Green Energy Sets Sights on ₹10,000 Crore IPO

**New Delhi, India** – NTPC Green Energy, the renewable energy arm of India’s 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). This move comes amidst a bustling IPO market in India and signals the company’s ambition to capitalize on the booming renewable energy sector.

The entire IPO will be comprised of fresh equity share issuance, with no existing shares being offered for sale. The company plans to utilize ₹7,500 crore of the proceeds to repay or prepay loans taken by its subsidiary, NTPC Renewable Energy Ltd (NREL). The remaining funds will be used for general corporate purposes.

NTPC Green Energy, a ‘Maharatna’ public sector enterprise, boasts a diverse portfolio of renewable energy assets, including solar and wind power projects spanning more than six states. As of August 2024, the company had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects.

The NTPC group is committed to expanding its renewable energy capacity, aiming to achieve 60 GW by 2032. Currently, it holds 3.5 GW of installed capacity, with over 28 GW under development.

This IPO filing comes at a time when India’s renewable energy sector is experiencing rapid growth. The country is currently the fourth largest in the world in terms of renewable energy capacity, particularly in wind and solar installations. The installed renewable energy capacity has grown from 63 GW in FY12 to 123 GW in FY21, reaching approximately 191 GW by March 2024, including large hydro. Renewable energy now accounts for nearly 43 per cent of India’s total power generation capacity, with solar energy driving this growth.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management will serve as the book-running lead managers for the issue.

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