Sebi approves IPOs of NTPC Green Energy, Avanse Financial Services
NTPC Green Energy, a wholly-owned subsidiary of NTPC. The company, which filed its draft prospectus in September, plans to raise Rs 10,000 crore through the IPO.
The IPO is entirely a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.
The proceeds from the fresh issue will be used for investment in its wholly-owned subsidiary, NTPC Renewable Energy, for the repayment of debt and other general corporate purposes.
Promoted by NTPC, NTPC Green Energy is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of June 2024 and power generation in fiscal 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.
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