Mon Nov 18 09:37:56 UTC 2024: ## NTPC Green Energy IPO to Raise ₹10,000 Crore
**Mumbai, November 16, 2024** – NTPC Green Energy Ltd., a subsidiary of NTPC Ltd., is set to launch its initial public offering (IPO) on Tuesday, November 19th. The renewable energy company aims to raise ₹10,000 crore through the sale of 92.59 crore equity shares. The IPO price band has been fixed at ₹102 to ₹108 per share.
The IPO, which will close on Friday, November 22nd, is entirely a fresh issue. Retail investors will need a minimum investment of ₹14,904 (138 shares). The allotment is expected on November 25th, with shares credited to demat accounts on November 26th. Listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is anticipated on November 27th.
The company plans to utilize the IPO proceeds to invest in its wholly-owned subsidiary, NTPC Renewable Energy Ltd., and for general corporate purposes. Qualified Institutional Buyers (QIBs) have been allocated 75% of the offering, Non-Institutional Investors 15%, and Retail Investors 10%.
IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers, while Kfin Technologies is the registrar. While the grey market premium is currently showing a muted ₹1 per share, analysts at Reliance Securities express optimism, citing NTPC Green Energy’s strong financials, growth potential, and contribution to India’s net-zero goals. They recommend a “Subscribe” rating for long-term investors.
As of September 2024, NTPC Green Energy is the largest renewable energy public sector enterprise (excluding hydro) in India, boasting an operational capacity of over 3,320 MW and a significant portfolio of solar and wind projects across multiple states. The company has witnessed impressive revenue and profit growth in recent years.
**Disclaimer:** This news article is for informational purposes only and does not constitute investment advice. Consult with a financial advisor before making any investment decisions.
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