NTPC Green Energy's Rs 100 Bn IPO likely in November first week
POWER & RENEWABLE ENERGY

NTPC Green Energy's Rs 100 Bn IPO likely in November first week

NTPC Green Energy, a subsidiary of the state-owned power company NTPC, was reportedly planning to launch its initial public offering (IPO) to raise Rs 100 billion in the first week of November, according to a source. The previous week, the company had filed preliminary documents with the capital markets regulator, Sebi, to raise the same amount through the IPO.

The source indicated that the IPO was expected to be launched in early November. Additionally, the company had planned to conduct roadshows in India, particularly in Mumbai, as well as abroad, with a focus on Singapore.

According to the draft red herring prospectus (DRHP), the IPO would consist entirely of a fresh issue of equity shares, without any offer-for-sale (OFS) component. The company specified that Rs 75 billion of the proceeds would be used to repay or prepay part or all of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while a portion would go towards general corporate purposes.

The filing came at a time when India's IPO market was seeing significant activity, with around 60 main board companies having launched their IPOs so far this year. NTPC Green Energy, a 'Maharatna' central public sector enterprise, has a renewable energy portfolio that includes solar and wind power assets across more than six states.

As of August 2024, the company’s operational capacity included 3,071 MW from solar projects and 100 MW from wind projects. The NTPC group as a whole aims to reach 60 GW of renewable energy capacity by 2032, with 3.5 GW already installed and over 28 GW under development.

India’s renewable energy sector was reported to be growing rapidly. Globally, India was ranked fourth in clean energy capacity, particularly in wind and solar installations, as cited in the draft paper based on a Crisil report. The country’s installed renewable energy capacity had increased from 63 GW in FY12 to 123 GW in FY21, reaching approximately 191 GW by March 2024, including large hydro. By that time, renewable energy accounted for nearly 43% of India’s total power generation capacity, with solar energy leading this growth.

NTPC Green Energy, a subsidiary of the state-owned power company NTPC, was reportedly planning to launch its initial public offering (IPO) to raise Rs 100 billion in the first week of November, according to a source. The previous week, the company had filed preliminary documents with the capital markets regulator, Sebi, to raise the same amount through the IPO. The source indicated that the IPO was expected to be launched in early November. Additionally, the company had planned to conduct roadshows in India, particularly in Mumbai, as well as abroad, with a focus on Singapore. According to the draft red herring prospectus (DRHP), the IPO would consist entirely of a fresh issue of equity shares, without any offer-for-sale (OFS) component. The company specified that Rs 75 billion of the proceeds would be used to repay or prepay part or all of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while a portion would go towards general corporate purposes. The filing came at a time when India's IPO market was seeing significant activity, with around 60 main board companies having launched their IPOs so far this year. NTPC Green Energy, a 'Maharatna' central public sector enterprise, has a renewable energy portfolio that includes solar and wind power assets across more than six states. As of August 2024, the company’s operational capacity included 3,071 MW from solar projects and 100 MW from wind projects. The NTPC group as a whole aims to reach 60 GW of renewable energy capacity by 2032, with 3.5 GW already installed and over 28 GW under development. India’s renewable energy sector was reported to be growing rapidly. Globally, India was ranked fourth in clean energy capacity, particularly in wind and solar installations, as cited in the draft paper based on a Crisil report. The country’s installed renewable energy capacity had increased from 63 GW in FY12 to 123 GW in FY21, reaching approximately 191 GW by March 2024, including large hydro. By that time, renewable energy accounted for nearly 43% of India’s total power generation capacity, with solar energy leading this growth.

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000