NTPC Green Energy Limited IPO
NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, is launching its Initial Public Offering (IPO) to raise Rs 10,000 crores. The IPO opens on November 19, 2024 and closes on November 22, 2024. This article provides key details about the IPO including offer structure, company background, financials, and issue review.
RI
by RA ALOK DAIYA SEBI Reg. INH000011468
IPO Offer Structure and Timeline
1
Offer Details
Fresh issue of 925,925,926 equity shares
Face value: Rs 10 per share
Price band: Rs 102 to Rs 108 per share
Lot size: 138 shares
Minimum investment for retail: Rs 14,904
The issue includes a reservation of up to 19,417,476 shares for employees offered at a discount of Rs 5 to the issue price.
IPO Timeline
1
IPO Open Date
Tuesday, November 19, 2024
2
IPO Close Date
Friday, November 22, 2024
3
Cut-off time for UPI mandate confirmation
5 PM on November 22, 2024
4
Basis of Allotment
Monday, November 25, 2024
5
Initiation of Refunds
Tuesday, November 26, 2024
6
Credit of Shares to Demat
Tuesday, November 26, 2024
7
Listing Date
Wednesday, November 27, 2024
About NTPC Green Energy Limited
Company Overview
Incorporated in April 2022, NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited. It focuses on undertaking renewable energy projects through organic and inorganic routes.
Project Portfolio
As of August 31, 2024, the company had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects across six states.
Financial Information
All amounts in Rs Crore
The company's revenue increased by 1094.19% and profit after tax (PAT) rose by 101.32% between the financial year ending March 31, 2024 and March 31, 2023.
IPO Objectives and Lead Managers
Objects of the Issue
The company proposes to utilise the Net Proceeds towards:
- Investment in the wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL), for repayment/prepayment of certain outstanding borrowings availed by NREL
- General corporate purposes
Lead Managers
- Idbi Capital Market Services Limited
- Hdfc Bank Limited
- Iifl Securities Ltd
- Nuvama Wealth Management Limited
Kfin Technologies Limited is the registrar for the IPO.
IPO Review
NTPC Green Energy benefits from its parent company, NTPC's financial strength, long-term relationships, and strong credit ratings, which enable it to execute large-scale projects efficiently. The company's management team possesses deep domain expertise in new energy solutions. NTPC Green is actively developing green hydrogen, green chemicals, and energy storage solutions, while maintaining prudent growth and contributing to India's net zero goals.
It leverages NTPC's five-decade legacy, extensive experience, strategic partnerships, advanced operations, and maintenance technologies. Given its strategic development and robust financial growth, NTPC Green Energy is well-positioned to capitalize on opportunities in the renewable sector.
It leverages NTPC's five-decade legacy, extensive experience, strategic partnerships, advanced operations, and maintenance technologies. Given its strategic development and robust financial growth, NTPC Green Energy is well-positioned to capitalize on opportunities in the renewable sector.