The Securities and Exchange Board of India (Sebi) has approved the initial public offerings (IPOs) of NTPC Green Energy, a wholly-owned subsidiary of NTPC. The company aims to raise ₹10,000 crore through this IPO, which will consist entirely of a fresh issue of equity shares. The offering includes a reservation for eligible employees, who will also receive a discount on their bids within this segment. The proceeds from the IPO are intended for investments in NTPC Renewable Energy, debt repayment, and general corporate purposes.
NTPC Green Energy is the largest public sector enterprise in renewable energy, excluding hydro, in terms of operating capacity as of June 2024. The company’s portfolio includes 14,696 MW, which comprises 2,925 MW of operational projects and 11,771 MW of contracted and awarded projects. Its renewable energy assets encompass both solar and wind power, distributed across multiple states, which helps reduce risks associated with location-specific generation variability.
The financial performance of NTPC Green Energy has shown significant growth, with revenue from operations increasing at a compound annual growth rate (CAGR) of 46.82%, rising from ₹910.42 crore in fiscal 2022 to ₹1,962.6 crore in fiscal 2024. Profit after tax has also surged at a CAGR of 90.75%, increasing from ₹94.74 crore in FY22 to ₹344.72 crore in FY24.
In addition, Avanse Financial Services, an education-focused non-banking financial company, has received final observations from Sebi for its proposed IPO. The company plans to use the net proceeds from the IPO to strengthen its capital base and support future growth in business and assets.
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