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NTPC Green Energy IPO is all set to open on November 19. The company aims to raise Rs 10,000 crore. The IPO is entirely a fresh issue of 92.59 crore shares and will close on November 22. The company set the IPO price band between Rs 102 – 108 per equity share. NTPC Green Energy, a wholly-owned subsidiary of NTPC, is a renewable energy company that focuses on undertaking projects through organic and inorganic routes.
IDBI Capital Market Services, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book-running lead managers of the IPO.
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NTPC Green Energy, a subsidiary of NTPC, India’s largest integrated energy company with over 76GW of installed capacity, is among the top 10 renewable players in India. At the forefront of NTPC’s renewable transition, NGEL targets 60GW of renewable energy capacity by 2032F, scaling operational capacity from 3.3GW in Sep 2024 to 6GW by FY25F, 11GW by FY26F, and 19GW by FY27F.
12:49 (IST) 18 Nov 2024 NTPC Green Energy IPO Live Updates: Bajaj Broking on NTPC Green Energy IPO
“If we attribute annualized FY25 earnings to a post-IPO fully diluted equity base, then the asking price is at a P/E of 257.14 and based on FY24 earnings, the P/E stands at 263.41. Thus the issue appears aggressively priced. But considering its current established capacities and future expanded capacities, this is a pure long-term story. As clarified by the management, the company has no impact on US policy on renewable energy as it has operations only in India,” said Bajaj Broking in an IPO note.
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