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  5. IPO-bound NTPC Green Energy to invest up to ₹1 lakh crore in green projects by FY27, details here

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IPO-bound NTPC Green Energy to invest up to ₹1 lakh crore in green projects by FY27, details here

Upstox
By Upstox News Desk

2 min read | Updated on November 14, 2024, 16:30 IST

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SUMMARY

NTPC Green also indicated that the company’s planning mainly revolves almost 90% around solar and 10% around wind at present. Going ahead, though, it plans to expand into other areas like green hydrogen and battery storage.

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The price band for the NTPC Green Energy IPO has been set at ₹102-₹108 per share.

NTPC Green Energy Ltd, which is set to launch its ₹10,000-crore initial public offering (IPO) next week, has already outlined plans for capital expenditure of around ₹1 lakh crore on its green projects that would be coming up within the next three years.

According to the company’s Chairman and Managing Director Gurpreet Singh, NTPC Green Energy has 16 GW of projects in the pipeline, most of which are solar.

“These projects are predominantly solar wherein capex of ₹5 crore to ₹7 crore per MW is expected to be spent,” Singh said at the press meet organised to launch the IPO. This translates into a capex in the range of ₹80,000 crore to ₹1.12 lakh crore.

He added, “Out of the 16 GW pipeline, 3 GW is expected to be completed in FY25, 5 GW in FY26 and 8 GW in FY27.”

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NTPC Green also indicated that the company’s planning mainly revolves almost 90% around solar and 10% around wind at present. However, it plans to expand into other areas like green hydrogen and battery storage.

Incorporated in 2022, NTPC Green Energy is a wholly-owned renewable energy subsidiary of state-run NTPC Ltd. As of August 2024, the company had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects across six states.

NTPC Green Energy IPO

NTPC Green Energy’s IPO will open for subscription on Tuesday, November 19, Tuesday, and close on Friday, November 22. The IPO listing is expected on the exchanges on November 27. Shares of NTPC Green Energy will be listed on the NSE and BSE.

The price band for the NTPC Green Energy IPO has been set at ₹102-₹108 per share, with a lot size of 138 shares. The issue is entirely a fresh issuance of 92.59 crore shares, with no offer-for-sale (OFS) component.

NTPC Green Energy IPO: Here’s how to apply under the shareholders’ quota and increase chances of allotment

The company has proposed to utilise the net proceeds from the IPO towards investment in the wholly-owned subsidiary, NTPC Renewable Energy Ltd, for repayment/prepayment (in full or in part) of certain outstanding borrowings availed by the unit and for general corporate purposes.

To know more about IPOs listing, schedule and upcoming IPOs, click here.
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