November 17, 2024, India - NTPC Green Energy is set to launch its initial public offering (IPO) from November 19 to November 22. The company has established a price band of Rs 102-108 per share, aiming to raise Rs 10,000 crore through the sale of 92.5 crore shares.
The grey market premium (GMP) for NTPC Green Energy shares currently stands at Rs 1-2, reflecting a 1% premium over the issue price. The company is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of June 2024, with a total portfolio of 14,696 MW, which includes 2,925 MW of operating projects and 11,771 MW of contracted and awarded projects.
Proceeds from the IPO will be allocated to investments in its wholly owned subsidiary, NTPC Renewable Energy, debt repayment, and general corporate purposes. NTPC Green Energy reported a compound annual growth rate (CAGR) of 46.82% in revenue, increasing from Rs 910.42 crore in fiscal 2022 to Rs 1,962.6 crore in fiscal 2024. Profit after tax surged at a CAGR of 90.75%, rising from Rs 94.74 crore in FY22 to Rs 344.72 crore in FY24.
The public offer reserves 75% for qualified institutional buyers, 10% for retail investors, and 15% for non-institutional investors. Final share allotment is scheduled for November 25, with the expected listing on stock exchanges on November 27.