Nov 18, 2024
By: Sourabh Jain
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New Delhi-based NTPC Green Energy’s initial public offering (IPO) will open on Tuesday, November 19 and close on Friday, November 22.
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NTPC Green Energy has fixed a price band of ₹102 to ₹108 per share for its public issue.
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NTPC Green Energy is a wholly owned subsidiary of NTPC, a listed public sector undertaking. It is a renewable energy company.
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NTPC Green Energy is looking to raise ₹10,000 crore from the current IPO. This is entirely a fresh issue and there is no offer for sale (OFS) component.
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Investors can bid for a minimum of 138 shares and in multiples of 138 shares thereafter.
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NTPC Green Energy currently has an operational capacity of 3,071 MW in solar projects and 100 MW in wind projects across six states. The company is currently constructing 31 renewable energy projects across seven states.
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The company’s income was ₹2,037.66 crore in FY24, up from ₹170.63 crore in FY23. The company reported a profit of ₹344.72 crore in FY24, up from ₹171.23 crore profit reported in FY23.
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The company is engaged in a highly competitive industry. It is dependent on a single project for nearly half its revenue, any adverse changes may be critical for the company.
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NTPC Green Energy is currently commanding a grey market premium (GMP) of ₹2 per share.
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The funds raised will be used for repayment of borrowings and for general corporate purposes.
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