New Delhi, Oct 28
The Securities and Exchange Board of India (SEBI) has approved NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, to raise Rs 10,000 crore through an initial public offering (IPO), the company announced Monday.
A new offering of equity shares, the IPO has a face value of Rs 10 per equity share. Additionally, the offer allows eligible employees to reserve a subscription, and eligible employees who bid in the employee reservation section will receive a discount.
According to the company, the Rs 7,500 crore proceeds from the new issue will be used for general corporate purposes, repayment or prepayment of some outstanding loans taken out by NREL, and investment in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL).
On September 18, the business submitted its IPO paperwork to Sebi.
As of June 30, NTPC Green’s portfolio included 14,696 MW, of which 2,925 MW were running projects and 11,771 MW were contractual and awarded projects.
In addition, it has 10,975 MW of “capacity under pipeline,” which, when combined with its portfolio, amounts to 25,671 MW.
In addition to having 15 offtakers spread among 37 solar and 9 wind projects, NTPC Green is currently building 31 renewable energy projects totaling 11,771 MW throughout seven states. Additionally, 2,925 MWs were in operation across two wind and fourteen solar projects. As of August 31, its operational capacity consisted of 100 MW of wind projects and 3,071 MW of solar projects spread across six states.
The operational income of NTPC Green Energy increased from Rs 910.42 crore in fiscal 2022 to Rs 1,962.60 crore in fiscal 2024 at a compound annual growth rate (CAGR) of 46.82 percent. From Rs 94.74 crore in fiscal 2022 to Rs 344.72 crore in fiscal 2024, profit after tax (PAT) increased at a compound annual growth rate (CAGR) of 90.75 percent.
