NTPC Green Energy IPO likely to open on November 19; check issue size and other key details

The much-awaited IPO of NTPC Green Energy is likely to open for subscription next week. Investors are keenly awaiting this renewable energy IPO, especially after the bumper listing of Waaree Energies.

According to sources, the bidding window for the state-owned company’s public issue will likely open on November 19. Meanwhile, the anchor investors round will take place on 18 November.

NTPC Green Energy IPO issue size

The NTPC subsidiary aims to raise ₹10,000 crore via its public issue. The NTPC Green Energy IPO is expected to comprise an entirely fresh issue of shares without any offer-for-sale (OFS) portion. The price band for the public issue has yet to be decided. However, according to sources, the shares will be issued at a face value of ₹10 apiece.

NTPC Green Energy IPO date

According to reports, NTPC Green Energy is expected to file its red herring prospectus (RHP) between November 12 and 14. As per sources, the subscription window for the NTPC Green Energy IPO is likely to remain open from November 19 to November 22. Details of the allotment date and the listing date have not been announced yet.

NTPC Green Energy IPO offer details

NTPC Green Energy has reserved as much as 75% of the net issue for Qualified Institutional Buyers, 10% for retail investors, and 15% for Non-Institutional Investors.

The public issue also has a reservation for shareholders of the parent company NTPC Limited. The shareholders who own shares of NTPC on the date of the filing of the Red Herring Prospectus will be eligible to apply under the shareholder’s quota.

NTPC Green Energy IPO registrar

The registrar for NTPC Green Energy IPO is Kfin Technologies Limited. The book running lead managers for the public issue include: IDBI Capital Market Services Limited, HDFC Bank Limited, IIFL Securities Limited and Nuvama Wealth Management Limited.

NTPC Green Energy IPO objective

The company plans to use ₹7,500 crore of the total funds raised via the public issue to repay the borrowings of its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). A portion of the proceeds will also be used by NTPC Green Energy for its general corporate purposes.

About NTPC Green Energy Limited

NTPC Green Energy Limited, incorporated in April 2022, is a wholly-owned subsidiary of NTPC Limited. The company is focused on undertaking projects through organic and inorganic routes.

As of August 31, 2024, the renewable energy company had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects across six states. The company’s workforce comprised 234 employees and 45 contract laborers as of June 30, 2024.