NTPC Green Energy Limited (NGEL) is set to release an initial public offering (IPO) of Rs 100 billion and has filed draft papers for the same. NGEL is a subsidiary of NTPC. The company will only issue new shares. No current shareholder will sell their shares.
Furthermore, the funds raised may be used for repayment of loans taken by NTPC. It has been announced that IDBI Capital Markets and Securities, HDFC Bank, IIFL Securities and Nuvama Wealth Management are the book running lead managers of the IPO.
In September 2024, NTPC commissioned a 160 MW solar project in Jaisalmer, Rajasthan as a part of their 320 MW Bhainsara solar project. They also issued a tender for 1.2 GW of power supply with greenshoe option for an additional capacity of 600 MW from inter-state transmission system connected wind-solar hybrid projects in India. In August 2024, NTPC Green Energy issued a tender for sale of 100,000 carbon credits from Verified Carbon Standard (VCS) -registered wind and solar projects with cumulative capacity of 610 MW.
