NTPC Green Energy, NTPC’s wholly owned renewable wing acquired a inexperienced sign from Securities and Exchange Board of India on Monday to boost Rs 10,000 crore by way of an preliminary public providing.
The vitality big had filed its IPO papers with the capital market regulator a month earlier on September 18.
IPO or an preliminary public providing is the method by way of which corporations elevate fairness capital from buyers by promoting their shares to the general public.
This IPO provides completely new issuance of shares and features a reserved portion for subscriptions by eligible staff, who will obtain a reduction when bidding on this worker reservation section.
The funds generated from the brand new share issuance, price Rs 7,500 crore, shall be utilized to put money into its wholly owned subsidiary, NTPC Renewable Energy (NREL), together with the reimbursement or prepayment and different basic company functions.
Backed by NTPC, NTPC Green Energy is a major public sector enterprise in renewable vitality (excluding hydro) primarily based on its working capability and energy technology capabilities.
NTPC Green’s portfolio consisted of 14,696 MWs together with 2,925 MWs of working initiatives and 11,771 MWs of contracted and awarded initiatives, as of June 30, 2024.
Furthermore, it additionally homes 10,975 MWs of capability underneath pipeline, aggregating to 25,671 MWs along with its portfolio.
