NTPC Files IPO for Green Energy Arm, Targets $1.2 Billion
India’s top power producer, NTPC Limited, has filed Initial Public Offering (IPO) papers for its subsidiary, NTPC Green Energy Ltd (NGEL), aiming to raise nearly $1.2 billion (approximately Rs 10,000 crore). Established in 2021, NGEL focuses on green energy and transition projects. Senior management confirmed the development, though official comments remain scarce.
This move follows unsuccessful attempts to attract strategic investors due to unsatisfactory valuations from foreign investors. NTPC’s green initiatives span solar and wind power, and the company is further expanding into green hydrogen and methanol projects, utilizing renewable energy sources.
First Published: Sep 18, 2024 | 11:10 PM IST
Original Story https://www.business-standard.com/markets/ipo/ntpc-files-1-2-billion-ipo-for-its-green-energy-arm-124091801509_1.html
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