NTPC Green Energy Sets Price Band for INR 10,000 Crore IPO, Opens November 19

NTPC Green Energy Ltd, the green energy subsidiary of NTPC, has set the price band for its INR 10,000 crore initial public offering (IPO) at INR 102-108 per share. This IPO comprises only new shares, with no Offer for Sale (OFS) component.

The subscription period will open on November 19 and close on November 22.

The allocation of shares is divided as follows: 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail individual investors (RIIs).

NTPC Green generates revenue by selling solar and wind power through power purchase agreements with Indian government agencies and public utilities. Its renewable energy portfolio includes 3,220 MW of solar power and 100 MW of wind power across six states, as of September 30, 2024.

The proceeds from the fresh issuance will be used to repay or prepay up to INR 7,500 crore of certain outstanding borrowings of NTPC Renewable Energy Ltd (NREL), a wholly owned subsidiary, with the remaining funds allocated for general corporate purposes.