New Delhi. NTPC
Green Energy Limited, a wholly owned subsidiary of NTPC
Limited, a ‘Maharatna’ central public sector enterprise,has fixed the price band of ₹102/- to ₹108/- per Equity Share of face value ₹10/- each for its
maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, November
19, 2024, for subscription and
close on Friday, November 22,
2024. Investors can bid for
a minimum of 138Equity Shares and in multiples of 138Equity Shares thereafter.
The IPO is entirely a
fresh issue of up to Rs 10,000 crore with no offer for sale component. A
discount of Rs 5 per equity share is being offered to eligible employees
bidding in the employee reservation portion.
The
proceeds from its fresh issuance will be utilized to the extent of Rs 7500
crore for investment in its wholly owned Subsidiary,
NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in
part of certain outstanding borrowings availed by NREL and
general corporate purposes.
NTPC Green Energy is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 30, 2024 and power generation in Fiscal 2024, according to a CRISIL Report, November 2024. Its renewable energy portfolio encompasses both solar and wind power assets with presence across multiple locations in more than six states which helps mitigate the risk of location-specific generation variability. Its operational capacity was 3,220 MW of solar projects and 100 MW of wind projects across six (6) states as of September 30, 2024.
As of September 30, 2024, its “Portfolio” consisted of 16,896 MWs including 3,320 MWs of operating projects and 13,576 MWs of contracted and awarded projects. Its Capacity under Pipeline together with its Portfolio consisted of 26,071 MWs. It had 17 offtakers across 41 solar projects and 11 wind projects.
NTPC Green Energy's revenue from operations has grown at a CAGR of 46.82% from ₹910.42 crore in Fiscal 2022 (on a special purpose carved-out basis) to ₹1,962.60 crore in Fiscal 2024 (on a restated basis). Its Operating EBITDA has grown at a CAGR of 48.23% from ₹794.89 crore in Fiscal 2022 (on a special purpose carved-out basis) to ₹1,746.47 crore in Fiscal 2024 (on a restated basis). Its Profit After Tax has grown at a CAGR of 90.75 % from ₹94.74 crore in Fiscal 2022 (on a special purpose carved-out basis) to ₹344.72 crore in Fiscal 2024 (on a restated basis).
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