NTPC Green Energy, Avanse Financial gets nod to Launch Rs 13,500 Crore IPOs

State-owned NTPC Green Energy, the renewable energy arm of NTPC, and Avanse Financial Services Ltd, an education-focused non-banking financial company (NBFC), have secured approval from SEBI to raise capital via initial public offerings (IPOs).

NTPC Green Energy aims to raise Rs 10,000 crore, while Avanse Financial Services seeks Rs 3,500 crore, as per filings made with the Securities and Exchange Board of India.

The two companies submitted their draft IPO papers to SEBI between July and September, receiving approvals on October 22-23, marking SEBI’s clearance to proceed with their public issues.

NTPC Green Energy’s IPO will be a fresh issue of shares, with Rs 7,500 crore allocated for repaying or prepaying loans for its subsidiary, NTPC Renewable Energy Ltd, while the remaining funds will cover general corporate expenses. This Maharatna PSU boasts a renewable energy portfolio across multiple states, primarily in solar and wind power.

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The IPO with a face value of Rs 10 per equity share is entirely a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion. IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management will act as the book-running lead managers for the issue.

Avanse Financial Services, India’s second-largest education-focused NBFC, plans a Rs 1,000 crore fresh equity issue alongside a Rs 2,500 crore OFS by existing shareholders, including Olive Vine Investment, Kedaara Capital, and IFC. Funds raised will boost Avanse’s capital base to support future growth. Meanwhile, VMS TMT has withdrawn its IPO plans, initially filed in early October.

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