IPO

NTPC Green Energy Limited IPO

Mainboard

Power Generation

Listed On: Nov 27, 2024 at ₹ 111.5(NSE)

₹ 14904 /138 Shares

Check Allotment

19 Nov, 2024

Open Date

22 Nov, 2024

Close Date

25 Nov, 2024

Allotment Date

27 Nov, 2024

Listing Date
Price Summary

Last Closing

98.75 (-8.56%)

52 Week High

155.35

52 Week Low

84.55

Last Update

14-Oct-2025 3:30 PM
NTPC Green Energy IPO Issue Details
  • Issue Price ₹102-108 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 92,59,25,926 shares(aggregating up to ₹10000 crore)
  • Fresh Share 92,59,25,926 shares(aggregating up to ₹10000 crore)
  • Listing at BSE, NSE
  • List Price 111.5(NSE)
  • Listing Date 2024-11-27
  • Lead Manager Idbi Capital Market Services Limited
    Hdfc Bank Limited
    Iifl Securities Ltd
    Nuvama Wealth Management Limited
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 138 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1138₹14,904
Retail(max)131794₹1,93,752
NTPC Green Energy IPO Reservation

NTPC Green Energy IPO offers total 92,68,24,883 shares. Out of which 24,44,44,445 (26.37%) allocated to QIB, 12,22,22,222 (13.19%) allocated to NII,8,14,81,481 (8.79%) allocated to RII, 1,94,17,476 (2.1%) allocated to employees and 36,66,66,666 (39.56%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered36,66,66,666 (39.56%)
QIB Shares Offered24,44,44,445 (26.37%)
NII (HNI) Shares Offered12,22,22,222 (13.19%)
bNII < ₹10L8,14,81,482 (8.79%)
sNII < ₹10L4,07,40,741 (4.4%)
Retail Shares Offered8,14,81,481 (8.79%)
Employee Shares Offered1,94,17,476 (2.1%)
Total Shares Offered92,68,24,883 (100%)
NTPC Green Energy IPO Documents
DRHP
RHP
ANCHOR
NTPC Green Energy IPO Details


NTPC Green Energy IPO is a book-built issue of ₹10000 crores, The total issue size is ₹10000 crores. The IPO of NTPC Green Energy is priced at ₹102-108 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Nov 19, 2024 and ends on Nov 22, 2024. The allotment for NTPC Green Energy IPO will be finalized on Nov 25, 2024. NTPC Green Energy IPO will be listed on BSE, NSE, with a tentative listing date fixed as Nov 27, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 138 shares, extendable to 14,904. The book-running lead manager for the IPO is/are Idbi Capital Market Services Limited, Hdfc Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited.

The total issue ₹10000 crore, comprising a fresh issue of 92,59,25,926 shares ₹10000 crore
The NTPC Green Energy IPO sets its price band at 102-108 for each share. A single application for NTPC Green Energy Limited IPO must contain at least 138 shares. Sentiment investors need to invest a minimum of 138 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,904

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NTPC Green Energy IPO Subscription Analysis And Details
Retail
3.44x
QIB
3.32x
NII
0.81x
bNII
0.57x
sNII
1.29x
Total
2.42x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved244,444,445122,222,222
81,481,481    40,740,741		81,481,481560,158,217
Day 1 19-11-24 05:00 PM
0.00 x0.16
0.08 x   0.31 x		1.33 x0.33 x
Day 2 21-11-24 05:00 PM
0.75 x0.34
0.21 x   0.62 x		2.38 x0.93 x
Day 3 22-11-24 05:00 PM
3.32 x0.81
0.57 x   1.29 x		3.44/SH:1.60 x2.42 x
Total No of Applications
22,26,023
Subscription on the basis of Applications
Retail:2.57x BHNI:0.10x SHNI:1.16x
NTPC Green Energy Valuations
EPS Pre IPO 0.46
EPS Post IPO 0.42
P/E Pre IPO 234.97
P/E Post IPO 259.56
ROE 7.39%
Debt/Equity 1.91
RoNW 2.14%
PAT Margin 16.20
Price to Book Value 9.89
NTPC Green Energy Company Financials
In Crs.
In Cr.
30-Sep-2431-Mar-2431-Mar-23
Assets32,408.3027,206.4218,431.4
Revenue1,132.742,037.66170.63
Profit After Tax175.30344.72171.23
Net Worth8,189.186,232.14N/A
Reserves & Surplus596.08512.60167.88
Total Borrowing17,057.5012,796.74N/A
About NTPC Green Energy Company

NTPC Green Energy Limited is the green energy business of NTPC Limited, registered in April 2022 and energetically leading the charge of transition in India into a clean energy future. Growth for NTPC Green is derived from organic development projects and strategic investments in addition to focusing on making India breathe clean today. NTPC Green commissioned 3,071 MW of solar power, and 100 MW of wind power in six states in India by August 2024 and provided energy supplies for communities and industries.

NTPC Green has grown rapidly with a pipeline of 14,696 MW, of which active projects stand at 2,925 MW and under-development ventures at 11,771 MW. The company is currently working with 15 off-takers in as many as 37 solar and 9 wind projects, which gives it firm partnerships and strong energy lines. Backed by the deep expertise and industry connections of NTPC, NTPC Green is a strong player in the renewable sector, led by a dedicated team of 234 employees and 45 contractors who are bringing India closer to a sustainable future.

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NTPC Green Energy - Promoter(s)

President of India, acting through the Ministry of Power

Government of India

NTPC Limited

Pre Issue Share Holding : 100%

Post Issue Share Holding : 89.01%

NTPC Green Energy IPO - Issue Objectives
1

Investment in the wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL), for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL

2

General corporate purpose.

NTPC Green Energy IPO - Anchor Investors

NTPC Green Energy raises Rs 3,960 crore via anchor book.

Marquee global institutional investors that became shareholders in NTPC Green Energy in anchor list included New World Fund, International Growth and Income Fund, Goldman Sachs, Morgan Stanley, New York State Teachers Retirement System, Government of Singapore, Monetary Authority of Singapore, T Rowe, Abu Dhabi Investment Authority, and BNP Paribas.

Domestic institutional investors like LIC of India, ICICI Prudential Mutual Fund, Nippon Life India, Kotak AMC, Aditya Birla Sun Life AMC, DSP Mutual Fund, Whiteoak Capital, Canara Robeco MF, Invesco India, SBI Life Insurance, HDFC Life Insurance, Edelweiss Trusteeship, Baroda BNP Paribas MF, HSBC MF, Aditya Birla Sun Life Insurance, Allianz India Equity, Bandhan Mutual Fund, PI Opportunities AIF, Bank of India MF, Union MF, ITI MF, and Canara HSBC Life Insurance also bought shares of the company through the anchor book.

NTPC Green Energy IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
NTPC Green Energy Limited0.730.7310.9N/A5.539.91Consolidated
Adani Green Energy Ltd6.216.262.08259.8312.8128.82Consolidated
Renew Energy Global PLC9.949.92290.1547.053.941.61Consolidated

Notes:

  1. The P/E ratio for the listed industry peers has been computed based on the closing market price of equity shares on BSE Limited ('BSE')/ Nasdaq as of November 4, 2024, divided by the diluted earnings per share for the year ended March 31, 2024. Foreign exchange rate of ₹ 84.105 per USD.
  2. For listed industry peers, EV source from Bloomberg market data is based on closing price as of November 4, 2024. The EV/ Operating EBITDA ratio has been computed as EV source from Bloomberg market data, divided by Operating EBITDA for the year ended March 31, 2024.
  3. Operating EBITDA for listed industry peers for the year ended March 31, 2024, has been computed as profit before interest, taxes, depreciation and amortisation, other income and exceptional items for the financial year or during a given period.
  4. RoNW (%) = Return on Net Worth (RoNW) is calculated as profit for the period/ financial year divided by Net Worth as at the end of the year/period. Net Worth means the sum of equity share capital and other equity, excluding non-controlling interest.
Strength
NTPC Green Energy is backed by the extensive experience of NTPC Limited.
The company holds a diverse portfolio of 14,696 MW renewable projects.
Strong credit ratings enable NTPC Green Energy to lower capital costs.
The company is expanding into green hydrogen and energy storage solutions.
Weakness
Heavy reliance on a few major customers creates revenue vulnerability.
Supply disruptions for solar and wind components can impact operations.
Concentration of projects in Rajasthan increases risk from local disruptions.
Contact Details

NTPC Green Energy

NTPC Bhawan, Core -7, SCOPEComplex 7 Institutional Area, Lodi Road, New Delhi,-110003

+91 11 24362577

ngel@ntpc.co.in

https://www.ngel.in/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

ntpcgreen.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/