NTPC Green Energy IPO launch expected by November: All you need to know

State owned power sector company NTPC Ltd has shared the latest updates about the launch of the initial public offering (IPO) for its green energy business. The company is likely to launch the IPO for its renewable energy subsidiary NTPC Green Energy Ltd (NGEL) in the second half of FY25.

The company said in a conference call with analysts, on May 24, that it is likely to list NGEL’s shares by October - November of this year.

Reports suggest that NGEL’s roadmap includes the setting up of 3 GW (Gigawatt) of renewable energy capacities in the current financial year, followed by 5 GW in FY26 and 8 GW in FY27.

What we know about NGEL IPO so far

The public sector power company’s green energy arm will tentatively file a Draft Red Herring Prospectus (DRHP) by July 2024, according to reports. The company plans to raise ₹10,000 crore through the IPO. The proceeds of the IPO are likely to be utilised for funding ongoing and future projects across solar, green hydrogen and green ammonia, according to reports.

The state owned company has also shortlisted investment bankers for the IPO, reports suggest.

About NTPC Green Energy

NTPC Green Energy Ltd is an umbrella company for all the renewable energy businesses of NTPC. The company was incorporated in April 2022. The company aims to be the flag bearer of NTPC’s green energy journey and aims to achieve the target of 60GW power generation by FY 32.

Some of the company’s significant achievements include diversifying its portfolio vis-a-vis participation in bidding processes, tenders and Ultra Mega Renewable Energy Power Parks (UMREPP).

Among the company’s notable achievements are developing the India's largest floating solar plant of 100 MW capacity at Ramagundam, Telangana; the Green Hydrogen Mobility Project set up at Leh and Greater Noida; and the world's largest solar park at Khavda, Gujarat, which has a 4750 MW capacity under execution.

NGEL financials

The company’s consolidated revenue from operations for the period ended March 31, 2023, was ₹ 169.69 crore. The company’s PAT (Profit After Tax) for the same period was ₹173.08 crore.

Shares of NTPC Ltd were trading at ₹365.05 apiece, down by 1.24%, on the NSE at 3:15 pm.

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