NTPC Green Energy Ltd., a clean energy subsidiary of NTPC, is reportedly targeting a valuation around $12 billion for its upcoming IPO, which could become one of India’s largest renewable energy offerings. Discussions with advisers suggest NTPC Green may price the IPO above Rs 100 per share, with a potential fundraising goal of up to Rs 10,000 crore, sources indicated.
The IPO subscription will likely open from November 18 to November 21. Though the exact details of valuation, pricing, and dates may change, the IPO has started creating a buzz in the market, as this would be a back-to-back IPO offering in the renewable energy segment, after Waaree Energies’ recent offering of $514 million that had an overwhelming interest from investors with over 70 times subscription. Major institutional investors subscribed to Waaree’s listing, furthering the momentum of the renewable energy sector.
Indeed, this sector has been in the Indian government’s radar, with more than 100 gigawatts of renewable capacity added in just the last ten years. ACME Solar Holdings Ltd., too, is eyeing the market, all set with a plan to raise $344 million through an initial public offering, further underlining high investor interest in India’s clean energy transformation.
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