NTPC Green Energy Ltd Opens On November 19. Check IPO Details Issue Date Price

EspressoLogy

NTPC Green Energy Ltd Opens On November 19. Check IPO Details Issue Date Price

November 21, 2024
NTPC Green Energy Ltd Opens On November 19. Check IPO Details Issue Date Price

NTPC Green Energy Limited is coming out with a fresh public issue to raise Rs. 10,000 crores from the market.

Below are the details of the NTPC Green Energy Limited IPO:

  • Issue opens – November 19 (Tuesday)
  • Issue closes – November 22 (Friday)
  • Issue size – Rs. 10,000 crores
  • Price band – Rs. 102 - 108 per equity share
  • Bid lot – 138 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • NTPC GREEN ENERGY LIMITED is a wholly owned subsidiary of NTPC Limited, a ‘Maharatna’ central public sector enterprise. They are 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. (Source: CRISIL Report, November 2024). Their 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. (Source: CRISIL Report, November 2024).
  • Their operational capacity was 3,220 MW of solar projects and 100 MW of wind projects across six (6) states as of September 30, 2024. They are strategically focused on developing a portfolio of utility-scale renewable energy projects, as well as projects for public sector undertakings (“PSUs”) and Indian corporates. Their projects generate renewable power and feed that power into the grid, supplying a utility or offtaker with energy. For their operational projects, they have entered into long-term Power Purchase Agreements (“PPAs”) or Letters of Award (“LoAs”) with an offtaker that is either a Central government agency like the Solar Energy Corporation of India (“SECI”) or a State government agency or public utility.
  • As of September 30, 2024, they had 17 offtakers across 41 solar projects and 11 wind projects. They define offtakers as parties with whom they have megawatts operating, contracted or awarded (signed PPA or from whom they have received an LoA). As of September 30, 2024, all 9 of their offtakers from which they earned revenue in the six months period ended September 30, 2024 were government agencies and public utilities with which they have long-term PPAs with an average term of 25 years.
  • They believe that they, along with the NTPC Group, have strong inhouse experience in renewable energy project execution and procurement. In solar projects, they usually take responsibility for procurement of major equipment and supplies and the contractor builds, commissions and hands over the solar plant. They also use the turnkey EPC contract model based on specific project conditions. In wind projects, they generally use the turnkey EPC model, entering into contracts with OEMs for manufacturing, installing, and commissioning wind turbines and the balance of plant.
Issue Size: Rs. 10,000 Cr.

Shareholder Reservation: Equity shares aggregating up to Rs. 1000 crores

Employee Reservation: Equity shares aggregating up to Rs. 200 crores

Employee Discount: Rs. 5 per share

Issue break-up:
QIB - 75 % of the net offer - Rs.  6600.00 Cr
NIB - 15 % of the net offer - Rs.  1320.00 Cr .
RET - 10 % of the net offer - Rs. 880.00 Cr

Listing: BSE & NSE

Registrar: KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, November 22, 2024.

Not an Espresso customer, but still want to apply for the IPORs. Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

Team Espresso
by Team Espresso

We care that you succeed

Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.