NTPC Green Energy’s Rs 10,000 crore IPO gets SEBI nod

by IANS |

New Delhi, Oct 28 (IANS) NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, on Monday said it has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 10,000 crore through an initial public offering (IPO).


The IPO with a face value of Rs 10 per equity share is a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.


The proceeds from the fresh issue to the extent of Rs 7,500 crore will be used for investment in its wholly-owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL, and general corporate purposes, said the company.


The company had filed its IPO papers with Sebi on September 18.


NTPC Green’s portfolio consists of 14,696 MWs including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects (as on June 30).


Additionally, it has 10,975 MWs of “capacity under pipeline”, aggregating to 25,671 MWs together with its Portfolio.


NTPC Green had 15 offtakers across 37 solar projects and 9 wind projects and are in the process of constructing 31 renewable energy projects in seven states, consisting of 11,771 MWs. It also had 2,925 MWs operating across 14 solar projects and two wind projects. Its operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six states as of August 31.


NTPC Green Energy’s operational revenue grew at a CAGR of 46.82 per cent from Rs 910.42 crore in fiscal 2022 to Rs 1,962.60 crore in fiscal 2024. Profit after tax (PAT) grew at a CAGR of 90.75 per cent from Rs 94.74 crore in fiscal 2022 to Rs 344.72 crore in fiscal 2024.

Latest News
Iconic European venues at risk as F1 considers rotational calendar Fri, Nov 08, 2024, 05:09 PM
175 dengue cases confirmed in Gurugram this year, no fatality reported Fri, Nov 08, 2024, 05:09 PM
Ramp up surveillance at e-commerce warehouses to boost food safety: FSSAI to states Fri, Nov 08, 2024, 05:08 PM
Vote for Mahayuti means people are with PM, says HM Shah in Maha Fri, Nov 08, 2024, 04:13 PM
Jodhpur Police prepare to take beautician's murderer to crime spot Fri, Nov 08, 2024, 04:11 PM
SC issues notice on PIL seeking inclusion of ayurveda, yoga in Ayushman Bharat scheme Fri, Nov 08, 2024, 04:09 PM
Social media doing harm to youngsters, calling time on it: Australian PM Albanese Fri, Nov 08, 2024, 03:37 PM
Rural markets stay ahead of urban centres in growth for FMCG goods: NielsenIQ Fri, Nov 08, 2024, 03:27 PM
Gut microbiome changes may signal onset of rheumatoid arthritis Fri, Nov 08, 2024, 02:49 PM
Putin says ready to speak with 'courageous' Trump Fri, Nov 08, 2024, 02:41 PM
Vote for Mahayuti for fast development, oppose MVA which will put brakes: PM tells Maha Fri, Nov 08, 2024, 02:41 PM
BJP MLAs run 'parallel assembly' in J&K Assembly lawns Fri, Nov 08, 2024, 02:39 PM
Tim Paine backs opener Usman Khawaja for continued role in Australian lineup, eyes Konstas as successor Fri, Nov 08, 2024, 02:36 PM
Rahul, Easwaran fail to leave mark as India A reduced to 73/5, after Harris makes 74 Fri, Nov 08, 2024, 02:33 PM
SC refuses to entertain PIL for appointment of 'Yoga Mitra' in all schools Fri, Nov 08, 2024, 02:14 PM