NTPC Green Energy IPO: NTPC’s green energy subsidiary NTPC Green Energy Limited can raise money from the market keeping in mind the target of achieving a valuation of $ 12 billion in the IPO. In this sense, the IPO of NTPC Green Energy Limited can be the country’s largest IPO in the renewable energy sector.
According to a Bloomberg report, NTPC Green Energy is in discussion with IPO advisors to keep the issue price of its IPO above Rs 100 per share ($1.18). NTPC is preparing to raise Rs 10000 crore from the market through Green Energy IPO. The IPO of the company is likely to remain open from 18th to 21st October. The company has not decided the price band at present and discussion on it is going on. The floor price, cap price and issue price of shares with face value of Rs 10 per share will be decided after consultation with BRLM.
In the month of October, stock market regulator SEBI had approved the IPO (Initial Public Offering) of NTPC Green Energy. The company had filed draft papers with SEBI to launch an IPO in September 2024. NTPC Green Energy Limited is a subsidiary of NTPC, the country’s largest power generation company. NTPC Green Energy will have a completely fresh issue in the IPO, that is, the company will issue new shares and the promoter company will not sell its stake in the IPO.
Out of the Rs 10,000 crore that NTPC Green Energy will raise in the IPO, Rs 7500 crore will go towards loan repayment. The company will spend the remaining amount on general corporate purposes and expansion. Some shares will be reserved for employees in the IPO of NTPC Green Energy. Employees will also be given a discount in the IPO price. Shares will also be reserved for NTPC shareholders. NTPC Green Energy shares will be listed on NSE and BSE.
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