Launching soon, NTPC Green Energy aims for a $12B valuation with its ₹100 billion IPO, riding the wave of India’s booming renewable energy sector.
NTPC Green Energy is seeking a valuation of approximately $12 billion ahead of its initial public offering (IPO), which aims to raise up to ₹100 billion from the Indian market, according to a Bloomberg report.
The company is in discussions with its advisors regarding the pricing of the shares, with the offering potentially priced above ₹100 per share. The IPO is expected to open on November 18 and close on November 21, although details such as the exact valuation, pricing range, and timing may still be subject to change.
NTPC Green Energy had earlier indicated plans to raise up to ₹100 billion through the public issue, positioning it as one of the largest IPOs in India’s renewable energy sector.
This move follows the listing of Waaree Energies, which raised $514 million from its IPO in October and was subscribed more than 70 times. Waaree’s shares surged by 56% in their market debut, drawing significant interest from global investors like Goldman Sachs, BlackRock, and Morgan Stanley.
According to the Mint, Investor enthusiasm for India’s renewable energy sector is growing, fuelled by government policies and initiatives promoting green energy. India’s renewable energy capacity has expanded by over 100 gigawatts in the last decade, surpassing earlier growth expectations.
In addition to NTPC Green Energy, other companies like ACME Solar Holdings are also tapping into the renewable energy IPO market, with strong demand from both retail and institutional investors.
