NTPC Green Energy Plans Major Rs 10,000 Crore IPO

The IPO will be the second-largest public sector IPO in India, after Life Insurance Corporation’s (LIC) record-breaking debut last year. The NGEL offering comes at a time when the Indian government has been pushing for a transition to renewable energy sources, making the timing of this listing crucial for both NGEL and the wider energy sector.

The IPO will consist of a fresh issue of shares worth Rs 9,750 crore, with no offer for sale (OFS) by existing shareholders. Proceeds from the offering are expected to be used to fund NTPC Green Energy’s expansion plans, including investments in solar, wind, and other renewable energy projects across the country. The IPO will be priced in a price band of Rs 42 to Rs 45 per share, with a discount likely for retail investors and employees.

The total offer size will make NGEL's IPO one of the largest renewable energy IPOs in India, underscoring the growing investor interest in clean energy and sustainability-focused ventures. The offer will be open for subscription from November 19 to November 21, 2024.

By raising nearly Rs 10,000 crore, NGEL will have the financial resources needed to scale up its green energy projects and contribute to India’s long-term sustainability goals. Investors will be closely watching the IPO, which is expected to attract considerable interest from both retail and institutional investors, given the growing importance of clean energy and the government’s strong support for the sector.