NTPC Green Energy IPO: Stock market regulator SEBI has approved the IPO (Initial Public Offering) of NTPC’s green energy subsidiary NTPC Green Energy Limited. NTPC is preparing to raise Rs 10000 crore from the market through Green Energy IPO. 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. IPO will be issued at face value of Rs 10 per share. Floor price, cap price and issue price will be decided after consultation with BRLM.
In the draft paper filed with SEBI, NTPC Green Energy said that out of the amount of Rs 10,000 crore that will be raised 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.
NTPC Green Energy is a Maharatna public sector company engaged in renewable energy and has solar and wind energy power assets in its portfolio. IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities and Nuvama Wealth Management Ltd are the book running lead managers of the IPO.
SEBI has also given green signal to the Rs 3500 crore IPO of Avanse Financial Services Limited.
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