NTPC Green Energy, the renewable energy arm of NTPC, is expected to launch its initial public offering (IPO) in the first week of November this year, sources confirmed.

The company plans to conduct roadshows in various locations across India and abroad, including Mumbai, London, US, Singapore, and other regions, to attract investments.

Last week, the company filed preliminary papers with capital markets regulator SEBI to raise ₹10,000 crore through an IPO.

The share sale will consist entirely of a fresh issuance of equity shares, with no offer-for-sale (OFS) component.

The company plans to utilise ₹7,500 crore from the proceeds to repay or prepay part or all of the outstanding loans of its subsidiary, NTPC Renewable Energy Ltd (NREL). The remaining funds will go toward general corporate purposes.

NTPC management is aiming for significant value unlocking through the listing of NTPC Green Energy, sources confirmed.

NTPC Green Energy is a wholly owned subsidiary of NTPC.

NTPC aims to achieve 60 gigawatts (GW) of renewable energy (RE) capacity by FY32. It currently has 3.5 GW of installed capacity and more than 28 GW under development.

IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management will act as the book-running lead managers for the issue.

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Published-September 23, 2024, 4:38:43 PM IST