NTPC Green Energy Ltd., a wholly-owned subsidiary of NTPC Ltd., has secured the final observation from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) worth ₹10,000 crore.
This IPO, with a face value of ₹10 per equity share, consists entirely of fresh equity shares, along with a reserved portion for eligible employee subscriptions at a discounted rate. The proceeds from this IPO, totaling ₹7,500 crore, will be utilized for debt repayment and general corporate purposes within its subsidiary, NTPC Renewable Energy Ltd. (NREL).
NTPC Green Energy is the largest renewable energy public sector enterprise, excluding hydro, in terms of operating capacity and power generation as of June 30, 2024, according to a CRISIL report.
As of June 30, 2024, NTPC Green’s portfolio consisted of 14,696 MWs, including 2,925 MWs of operating projects and 11,771 MWs of contracted and awarded projects. Additionally, it has 10,975 MWs of capacity under pipeline.
The company’s renewable energy portfolio encompasses both solar and wind power assets with presence across multiple locations in more than six states. NTPC Green had 15 offtakers across 37 solar projects and 9 wind projects and is constructing 31 renewable energy projects in 7 states.
Its operational capacity was 3,071 MW of solar projects and 100 MW of wind projects across six states as of August 31, 2024.
NTPC Green Energy’s revenue from operations has grown at a CAGR of 46.82 per cent from ₹910.42 crore in fiscal 2022 to ₹1,962.60 crore in Fiscal 2024. The profit after tax grew at a CAGR of 90.75 per cent from ₹94.74 crore in FY2022 to ₹344.72 crore in FY2024.
For the three-month period ended June 2024, revenue from operations and profit after tax stood at ₹578.44 crore and ₹138.61 crore, respectively.
