NTPC Green Energy., a subsidiary of state-run NTPC Ltd., has filed its draft red herring prospectus for an initial public offering (IPO) aimed at raising ₹10,000 crore.
This IPO will consist solely of a fresh issue, with no offer-for-sale component included.
This initiative aligns with India's ambitious renewable energy goals, as the government seeks to boost its renewable capacity to 500 GW by 2030, up from approximately 200 GW today.
Kranthi Bathini, director of equity strategy at WealthMills Securities, told a news agency that the IPO is expected to attract significant investor interest, especially as green energy remains a key focus in the near term, adding that NTPC’s move also signals its intent to diversify earnings by exploring various energy avenues.
The issue will be managed by a team of book-running lead managers, including IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management, as outlined in the draft documents.
India's IPO landscape has been vibrant this year, with around 235 companies raising over ₹71,000 crore so far. The Nifty 50 index has reached record highs more than 50 times in 2024, reflecting strong market momentum.
On the day of the filing, NTPC shares closed at ₹414.5 on the NSE, down 0.52%, compared to a 0.16% decline in the benchmark index, though the stock has gained 33% year-to-date.