NTPC Green Energy Files DRHP With SEBI For ₹10,000 Crore IPO
NTPC Green Energy Ltd (NGEL), a subsidiary of India’s largest energy conglomerate NTPC Ltd, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), moving forward with its plans to raise approximately ₹10,000 crore through an Initial Public Offering (IPO). This marks a significant step in NTPC’s transition towards expanding its renewable energy portfolio as part of India’s broader commitment to sustainability and carbon neutrality.
Strategic Importance of the IPO
The IPO is a part of NTPC’s larger strategy to pivot from conventional coal-based power generation to greener, more sustainable energy sources. The funds raised through this IPO will be directed towards various renewable energy projects, primarily focusing on solar and wind energy infrastructure. By leveraging these funds, NTPC Green Energy aims to accelerate the development of clean energy assets, contributing to the national renewable energy goals.
NTPC Green Energy’s IPO is also expected to attract substantial interest from both domestic and international investors. As global emphasis on environmental, social, and governance (ESG) practices grows, the focus on clean energy stocks has been rising, making NGEL’s IPO particularly attractive to institutional investors.
IPO Details
According to the draft red herring prospectus (DRHP), the entire IPO will consist of fresh equity share issuance with no offer-for-sale (OFS) component.
IDBI Capital Markets & Securities Limited, HDFC Bank Limited, IIFL Securities Limited, Nuvama Wealth Management Limited are the lead managers for the issue and KFin Technologies Limited is the registrar
Conclusion
NTPC Green Energy’s ₹10,000 crore IPO is a crucial milestone for the company and India’s renewable energy transition. It highlights the growing emphasis on sustainability in India’s energy sector and the critical role NGEL will play in achieving the nation’s green energy targets. As the company gears up for the IPO, investors are likely to keenly watch its progress, given the increasing global focus on ESG investments and the massive growth potential in India’s renewable energy market.
Follow us on Telegram for all latest updates