Thu Sep 19 05:32:41 UTC 2024: ## NTPC Green Energy Aims to Raise ₹10,000 Crore Through IPO, Fueling India’s Green Ambitions

**New Delhi, India -** NTPC Green Energy, a subsidiary of state-run NTPC Ltd., has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO) targeting a ₹10,000 crore raise. The IPO will consist entirely of fresh issuance, with no offer-for-sale component. This move aligns with India’s ambitious renewable energy goals, aiming to reach 500 GW of renewable capacity by 2030, up from approximately 200 GW currently.

Experts anticipate strong investor interest in the IPO, with green energy remaining a significant focus in the near term. Kranthi Bathini, director of equity strategy at WealthMills Securities, stated that NTPC’s initiative also highlights its commitment to diversifying its earnings through various energy avenues.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been appointed as book-running lead managers for the IPO.

This IPO announcement comes amid a vibrant year for India’s IPO market, with approximately 235 companies raising over ₹71,000 crore so far. The strong market momentum is reflected in the Nifty 50 index hitting record highs over 50 times in 2024.

On the day of the filing, NTPC shares closed at ₹414.5 on the NSE, down 0.52%, compared to a 0.16% decline in the benchmark index. However, the stock has seen a 33% year-to-date gain.

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