NTPC Green Energy plans to file IPO of $1.2 bn listing
The Power Company plans to use the proceeds to invest in its subsidiary and repay loans taken by the unit, according to a draft prospectus.
The renewable-energy arm of India’s state-run power producer NTPC Ltd. is anticipating to raise as much as Rs 10,000 crore ($1.2 billion) in its initial public offering, to formulise the bigger deals.
The Power Company plans to use the proceeds to invest in its subsidiary and repay loans taken by the unit, according to a draft prospectus. The company has yet to decide its listing date.
IDBI Capital Markets & Securities Ltd., HDFC Bank Ltd., IIFL Securities Ltd., and Nuvama Wealth Management Ltd. are book-running lead managers of the offering.
Read Also : SJVN Limited holds 36th Annual General MeetingMoreover, three more companies, including SoftBank-backed Swiggy Ltd., as well as Indian units of LG Electronics Inc. and Hyundai Motor Co., are looking at $1 billion-plus IPOs in the coming months after recent debutants saw their shares surge on listing. Bajaj Housing Finance Ltd.’s stock more than doubled on debut this week, after raising $781 million in India’s biggest IPO of the year so far.
NTPC Green has solar and wind-power assets, and operates in more than six states. The company posted a net income of 1.4 billion rupees on revenue of 5.8 billion rupees for the three months through June this year, according to the draft prospectus.
Read Also : BEL signs Agreement with Reliasat Inc. Canada to make a foray into space domain
News Must Read
- India’s Largest Bank, SBI raised Rs. 7,500 cr
- Indian Bank raises Rs. 5,000 Crores through issuance of Bonds
- NLCIL plans three fold increase in its total power generation capacity by 2030
- DVC enters into financial collaboration with State Bank of India
- IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal
- IREDA Signs MoU with SJVN and GMR fo Hydro Project in Nepal
- SJVN CMD visited 1320 MW Buxar Thermal Power Project
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39