
Ntpc Green Energy Limited is the renewable energy arm of NTPC Limited, a government-owned power generation company in India.
The company's IPO aims to raise Rs 1,800 crore, with a price band of Rs 551-551 per equity share.
Ntpc Green Energy Limited has a diversified portfolio of renewable energy projects, including solar, wind, and hydroelectric power.
The company has a total installed capacity of 1,700 MW, with a pipeline of 7,000 MW in the pipeline.
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About
NTPC Green Energy Limited is a wholly owned subsidiary of NTPC Limited, a prominent 'Maharatna' central public sector enterprise.
As of June 30, 2024, it stands as the largest renewable energy public sector enterprise in India, excluding hydro, based on operating capacity and power generation for the fiscal year 2024.
The company focuses on developing utility-scale renewable energy projects, with an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects as of August 31, 2024.
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NTPC Green Energy Limited has established long-term Power Purchase Agreements (PPAs) with central and state government agencies, ensuring a steady energy supply to the grid.
As of June 30, 2024, the total portfolio comprises 14,696 MW, which includes 2,925 MW of operational projects and 11,771 MW of contracted and awarded projects.
The company is currently constructing 31 renewable energy projects across 7 states, showcasing its commitment to expanding its renewable capacity.
With a strong focus on operational efficiency, NTPC Green Energy Limited aims to contribute significantly to India's energy transition toward cleaner renewable sources.
IPO Details
The NTPC Green Energy Limited IPO is a significant event in the market, and understanding the details can help you make informed decisions.
The funds raised in the IPO amount to ₹10,000 crores, which will be entirely from a fresh issue.
Here's a breakdown of the IPO size:
The share price of the NTPC Green Energy IPO is set at ₹102 to ₹108 per share, giving investors a clear idea of the price range to expect.
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Issue Objectives

The Issue Objectives of the NTPC Green Energy IPO are quite clear. The company plans to use the net proceeds from the issuance for specific purposes.
The main objective is to invest in NTPC Renewable Energy Limited (NREL), which will be used to repay or prepay part or all of its outstanding borrowings. This is a crucial step in managing the subsidiary's debt.
The remaining funds will be allocated towards general corporate purposes, which is a broad category that can include various business activities. This flexibility will allow the company to respond to changing market conditions and business needs.
Here are the specific objectives of the issue:
- Repayment/prepayment of outstanding borrowings of NTPC Renewable Energy Limited
- General corporate purposes
Price Range
The price range for NTPC Green Energy Ltd is set at ₹102 to ₹108 per share. This is the band within which the shares will be priced.
The cut-off time for UPI mandate confirmation is 5:00 PM, November 22, 2024. Make sure to complete your mandate before then.
The IPO price band is also ₹102 to ₹108 per share, confirming the initial price range.
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Financial Information
NTPC Green Energy Limited's revenue increased by a staggering 1094.19% between the financial year ending with March 31, 2024, and March 31, 2023, with a significant rise in profit after tax (PAT) of 101.32%.
Their market capitalization is a substantial ₹91000.00 Cr, indicating a strong presence in the market. The company's total income has seen a notable increase, from ₹170.63 million in 2023 to ₹2037.66 million in 2024.
Here's a breakdown of their financial performance over the past few years:
Their EBITDA has also seen a significant increase, from ₹152.32 million in 2023 to ₹2171.56 million in 2025.
Financial Information (Consolidated)
NTPC Green Energy Limited's revenue increased by 1094.19% between the financial year ending with March 31, 2024, and March 31, 2023.
Their revenue rose from ₹170.63 million in 2023 to ₹2037.66 million in 2024.
The company's profit after tax (PAT) rose by 101.32% between the same years, from ₹171.23 million in 2023 to ₹344.72 million in 2024.
Their assets increased from ₹18,431.40 million in 2023 to ₹27,206.42 million in 2024.
Here's a breakdown of their financial information for the years 2023, 2024, and 2025:
NTPC Green Energy Limited's total expenses increased from ₹118.09 million in 2023 to ₹1,551.95 million in 2024.
Their EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased from ₹152.32 million in 2023 to ₹1,819.03 million in 2024.
The company's return on equity (ROE) was 17.76% in 2024, and their debt-equity ratio was 1.98 in 2024.
Their cash and cash equivalents decreased from ₹727.46 million in 2023 to ₹188.37 million in 2024.
Their total income increased from ₹1,706.31 million in 2023 to ₹20,376.57 million in 2024.
NTPC Green Energy Limited's market capitalization is ₹91,000.00 crore.
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Utilisation of Proceeds
Utilisation of Proceeds is a crucial aspect of a company's financial strategy. The company plans to allocate 75% of its proceeds towards debt reduction of its subsidiary, which is a significant step towards financial stability.
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This allocation is substantial, amounting to INR 7500 crores. Debt reduction is essential for any business, as it frees up resources and improves cash flow.
A smaller portion of the proceeds, 25%, will be used for general corporate purposes. This could include investing in new projects, expanding operations, or enhancing the company's infrastructure.
Here's a breakdown of the utilisation of proceeds:
Promoter and Shareholder Information
The promoter group of NTPC Green Energy Limited initially held 100% of the company's shares, but after the IPO, their holding decreased to 89.01%.
The promoter group's shareholding decreased by 10.99% as a result of the IPO. This is calculated by subtracting the post-issue shareholding from the pre-issue shareholding.
Here is a breakdown of the shareholding pattern after the IPO:
The public group's shareholding increased to 11% after the IPO, whereas the promoter group's shareholding decreased to 89%.
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Shareholder Pattern
The shareholder pattern of the NTPC Green Energy IPO is quite interesting. The promoter group held 100% of the shares before the issue, but after the issue, their shareholding decreased to 89%.
The public group, on the other hand, had no shares before the issue, but after the issue, they got 11 shares. This shows that the public group's involvement in the company has increased.
Here's a breakdown of the shares offered to different groups:
The anchor investor, in particular, played a significant role in the issue, taking up a massive 39.61% of the shares offered.
Anchor Investors
Anchor investors play a significant role in the success of an initial public offering (IPO). They are typically institutional investors who invest a large amount of money at a discounted price, helping to raise capital for the company.
The NTPC Green Energy IPO had a total of 36,66,66,666 shares offered to anchor investors. This is a massive number, and it's clear that the company is looking to raise a significant amount of capital.
Anchor investors are locked in for a certain period, which helps to stabilize the company's stock price after the IPO. In the case of NTPC Green Energy, the anchor lock-in period for 50% of the shares ends on December 25, 2024, while the lock-in period for the remaining shares ends on February 23, 2025.
Here's a breakdown of the anchor investors' details:
Investor Information
NTPC Green Energy Limited's revenue skyrocketed by 1094.19% between the financial year ending with March 31, 2024, and March 31, 2023.
The company's profit after tax (PAT) rose by 101.32% during the same period.
With a market capitalization of ₹91000.00 Cr, the NTPC Green Energy IPO is a significant investment opportunity.
Here are the key financial highlights for NTPC Green Energy Limited:
This financial growth is a testament to the company's success and potential for future growth.
Employee Discount
So, you're an employee looking to invest in the NTPC Green Energy IPO? You're in luck because there is a discount for the Employee (EMP) category of ₹5 per share.
Stocks
Investing in stocks can be a great way to grow your wealth over time. IPOs can be a good opportunity to invest early in companies that may become market leaders.
Stocks can be volatile, with prices fluctuating rapidly. This is especially true for IPOs, which can see significant price swings in the short term.
Investing in stocks requires a long-term perspective, as it can take time for companies to grow and mature. IPOs, for example, may not be profitable immediately, but they can offer potential for long-term growth.
If you're considering investing in stocks, it's essential to do your research and understand the company's financials and business model.
Registrar of
The registrar of NTPC Green Energy Ltd IPO is KFin Technologies Ltd.
You can contact them at 04067162222 or 04079611000 for any queries.
Their email address is [email protected].
You can also visit their website at https://ipostatus.kfintech.com/ for more information.
Registrar and Lead Manager
The registrar of NTPC Green Energy Ltd IPO is KFin Technologies Ltd. You can reach them at 04067162222 or 04079611000, or email them at [email protected].
To get in touch with the lead manager, you can visit their website at https://ipostatus.kfintech.com/.
The registrar's contact information is available on their website, making it easy to get in touch with them.

KFin Technologies Ltd is the registrar of NTPC Green Energy Ltd IPO, and they have a dedicated website for IPO status updates.
Here is a summary of the registrar's contact information:
- Phone: 04067162222, 04079611000
- Email: [email protected]
- Website: https://ipostatus.kfintech.com/
The registrar's website is a great resource for staying up-to-date on IPO status and other important information.
Media Coverage
Media coverage of the NTPC Green Energy IPO has been widespread and exciting. Finshots has been one of the publications highlighting the enthusiasm surrounding the IPO.
The Economic Times has reported that the IPO is expected to raise Rs 10,000 crores. This is a significant amount of money that will be used to support the company's green energy initiatives.
Times of India has announced that Prime Minister Modi will be laying the foundation for India's largest Green Hydrogen hub on November 29th. This is a major development that will likely have a positive impact on the company's future prospects.
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IPO Process
The IPO process for NTPC Green Energy Limited is a straightforward one. You can apply online using either UPI or ASBA as payment method.
To apply online, you can log in to your broker's account, such as Bajaj Broking or Zerodha, and follow the steps to apply for the IPO. For example, with Zerodha, you can tap on Bids, then IPO, select NTPC Green Energy IPO, and enter the UPI ID and quantity and price of shares you wish to apply for.
The IPO opens on November 19, 2024, and closes on November 22, 2024, with a cut-off time for UPI mandate confirmation at 5 PM on November 22, 2024. The finalization of Basis of Allotment will be done on November 25, 2024, and the allotted shares will be credited to your demat account by November 26, 2024.
When Will Open
The NTPC Green Energy IPO process is underway, and you're likely wondering when it will open. The IPO opens on November 19, 2024, so mark your calendars for that date.
You'll have a few days to submit your applications, as the IPO closes on November 22, 2024. Make sure to get your applications in before the deadline.
Here's a quick rundown of the key dates you should know:
The IPO will be open for subscription from November 19 to November 22, 2024, so plan accordingly.
Minimum Retail Subscription Access
When subscribing to NTPC Green Energy Ltd, retail investors have a specific minimum requirement they need to meet. This minimum lot size is 138 shares, which translates to an amount of ₹14,904.
Retail investors can subscribe to a minimum of one lot, making it accessible to a wide range of investors.
The subscription process for NTPC Green Energy Ltd's IPO has been quite popular, with various categories of investors participating. Let's take a look at the subscription rates for each category:
These subscription rates give us an idea of how popular the IPO has been among different types of investors.
How to Apply
To apply for the NTPC Green Energy IPO, you can use either UPI or ASBA as a payment method. You can apply online through your broker's app or website, such as Bajaj Broking, Zerodha, or Angel One.
To apply through Bajaj Broking, login to their app or website, click on IPO, enter the number of lots and price you wish to apply, and submit your application. For Zerodha, login to your account, tap on Bids, select IPO, choose the NTPC Green Energy IPO, and follow the on-screen instructions.
The minimum lot size for retail subscribers is 138 shares, with an amount of ₹14,904. You can pre-apply for the IPO in Zerodha Kite by following the steps outlined in their support article.
Here's a summary of the application process for each broker:
Once you've submitted your application, you'll need to approve the payment mandate on your UPI app. This will be sent to you after 10 AM on the IPO start date.
Lead Manager
The lead manager plays a crucial role in the IPO process. They are responsible for overseeing the entire process and ensuring it runs smoothly.
The lead manager is typically a bank or financial institution that has been appointed by the company issuing the IPO. In the case of NTPC Green Energy Ltd, IDBI Capital Markets & Securities Ltd, HDFC Bank Ltd, IIFL Securities Ltd, and Nuvama Wealth Management Ltd are the book-running lead managers of the IPO.
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These lead managers are responsible for managing the IPO process, including pricing, allocation, and listing. They also ensure that all regulatory requirements are met and that the IPO is launched on time.
Here's a breakdown of the lead managers' involvement in the IPO process:
The lead manager's experience and expertise are crucial in determining the success of the IPO. They must have a deep understanding of the market and the company's financials to ensure that the IPO is priced correctly and allocated fairly.
At the time of the IPO, NTPC Green Energy Ltd had a net worth of ₹18,486.5 crore, reserves and surplus of ₹10,060.17 crore, and total borrowing of ₹8,092.51 crore.
Listing
The listing date for NTPC Green Energy Ltd IPO is November 27, 2024. This is the day when the shares will be available for trading on the stock exchanges.
The BSE script code for NTPC Green Energy Ltd is 544289, and the NSE symbol is NTPCGREEN. You'll need to know these codes to track the company's performance on the stock market.
The ISIN (International Securities Identification Number) for NTPC Green Energy Ltd is INE0ONG01011. This is a unique identifier for the company's shares.
The final issue price for NTPC Green Energy Ltd IPO is ₹108 per share. This is the price at which the shares were offered to the public.
Here's a quick reference guide to the listing details:
The expected listing price of shares on the BSE and NSE is approximately ₹111.50, reflecting the grey market premium trends.
Risks and Concerns
Project construction delays or cost overruns can significantly impact the performance of NTPC Green Energy Limited. This is a common challenge faced by many companies in the infrastructure sector.
Heavy reliance on a few major customers creates revenue vulnerability, which is a significant concern for the company. This is evident from the fact that revenue concentration from the top five off-takers is substantial.
Project delays or cost overruns may affect profitability and cash flow, which is a major risk for the company. Supply disruptions for solar and wind components can also impact operations, adding to the company's woes.
Key Risks:
- Heavy operational concentration risk in Rajasthan state.
- Delayed or non-collection of receivables impacts finances.
- High capital expenditure needs may require additional financing.
- Revenue concentration from the top five off-takers is significant.
- Regulatory changes in tariffs could negatively impact revenue stability.
- Competition from traditional and renewable companies challenges market positioning.
Risks
Project construction delays or cost overruns can significantly impact a company's performance. This can lead to missed deadlines and increased expenses, straining the company's resources.
Heavy operational concentration in one region, such as Rajasthan state, can be a major risk. This concentration can make the company more vulnerable to local disruptions.
Delayed or non-collection of receivables can have a direct impact on a company's finances. This can lead to cash flow problems and make it difficult to meet financial obligations.
High capital expenditure needs may require additional financing, which can be a significant risk. This can lead to increased debt and financial strain.
Revenue concentration from a few major customers can be a significant risk. If these customers were to suddenly stop doing business with the company, it could have a major impact on revenue.
Here are some of the key risks to consider:
- Heavy reliance on a few major customers creates revenue vulnerability.
- Project delays or cost overruns may affect profitability and cash flow.
- Concentration of projects in Rajasthan increases risk from local disruptions.
- Regulatory changes in tariffs could negatively impact revenue stability.
- Competition from traditional and renewable companies challenges market positioning.
Grey Market Premium vs. Listing Price
The Grey Market Premium (GMP) for NTPC Green Energy IPO shares is a notable 3.24% premium over the IPO's upper price band of ₹108, currently standing at ₹3.50.
This GMP is a significant increase from the ₹0.80 recorded on November 19, 2024, showing a substantial rise in investor interest.
The expected listing price of shares on the BSE and NSE is approximately ₹111.50, reflecting the GMP trends.
This expected listing price suggests a potential price jump from the IPO's upper price band, which investors should be aware of.
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Market Analysis
The market for renewable energy is growing rapidly, with NTPC Green Energy Limited poised to capitalize on this trend.
NTPC Green Energy Limited is a 100% subsidiary of NTPC Limited, the largest energy conglomerate in India, with a market capitalization of over Rs 1.5 lakh crore.
With a strong parent company, NTPC Green Energy Limited is well-positioned to tap into the vast potential of the renewable energy market in India.
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Peer Comparison
As we dive into the world of market analysis, it's essential to understand how different companies stack up against each other. Let's take a look at the peer comparison of NTPC Green Energy Limited with its listed peers, Adani Green Energy Limited and ReNew Energy Global PLC.
NTPC Green Energy Limited has a face value of ₹10 per share, while its peers have similar face values. Adani Green Energy Limited also has a face value of ₹10 per share.
Adani Green Energy Limited has a significantly higher EPS (Basic) at ₹6.21, compared to NTPC Green Energy Limited's ₹0.73. This could indicate a more profitable business model.
ReNew Energy Global PLC's face value is listed in USD, at $0.0001 per share, which is a significant difference from its peers.
Here's a summary of the key statistics for each company:
These statistics give us a better understanding of how each company is performing in terms of profitability and growth.
News
NTPC Green Energy's IPO has made headlines recently. The company has filed draft papers for a $1.2 billion IPO, a significant move in the market.
The IPO is expected to be a major event, with NTPC Green Energy seeking to raise Rs 10,000 Crore, a substantial amount of money.
Here are some key details to note about the IPO:
- NTPC Green Energy’s Rs 10,000 Crore IPO
- NTPC Green Energy IPO – Key Details to Note
- NTPC Green Energy IPO: Key Financial Insights Before Subscription
This IPO has the potential to be a game-changer in the market, and investors are likely to take notice.
IPO Team and Process
The NTPC Green Energy Limited IPO has a team of experienced professionals handling the process. IDBI Capital Markets & Securities Ltd, HDFC Bank Ltd, IIFL Securities Ltd, and Nuvama Wealth Management Ltd will be the book-running lead manager of this IPO.
To ensure a smooth IPO process, it's essential to have a well-structured team in place. The lead managers will play a crucial role in guiding the IPO process.
The lead managers will be responsible for managing the IPO process, and they will be the primary point of contact for investors and other stakeholders.
IPO Status and Figures
The IPO status of NTPC Green Energy Limited is a crucial aspect to consider. The total shares reserved for the IPO were 59,31,67,575.
Qualified Institutional Buyers (QIBs) showed a strong interest, bidding for 60,99,79,044 shares, which is 2.36 times the shares reserved for them. Non Institutional Investors, on the other hand, bid for 4,85,82,900 shares, which is only 0.38 times the shares reserved for them.
The subscription figures for Retail Individual Investors (RIIs) and Shareholders were 1.48 and 0.65 times the shares reserved for them, respectively. Employees' subscription was the lowest at 0.30 times the shares reserved for them.
Subscription Figures
The subscription figures for NTPC Green Energy's IPO are quite impressive, with a total subscription of 1.44 times the total shares reserved.
Qualified Institutional Buyers (QIBs) bid for 60,99,79,044 shares, which is 2.36 times the shares reserved for them.
Non Institutional Investors, on the other hand, bid for 4,85,82,900 shares, which is only 0.38 times the shares reserved for them.
Retail Individual Investors (RIIs) bid for 12,77,77,098 shares, which is 1.48 times the shares reserved for them.
Employees bid for 61,55,766 shares, which is a relatively low 0.30 times the shares reserved for them.
Shareholders bid for 6,34,75,032 shares, which is 0.65 times the shares reserved for them.
Here's a breakdown of the subscription figures by category:
The subscription figures also indicate that Retail Individual Investors bid 3.44 times the shares reserved for them, while Qualified Institutional Buyers bid 3.32 times the shares reserved for them.
Checking Status
Checking Status can be a nerve-wracking experience for investors. You can check the allotment status of the NTPC Green Energy IPO through the Angel One app.
To do this, log in to the Angel One app, then go to the IPO Section and select IPO Orders. From there, choose the individual IPO you applied for and check the allotment status. Angel One will also notify you of your IPO allotment status via push notification and email.
Alternatively, you can check the allotment status through official websites like BSE and NSE, or visit the registrar's website for a simplified process.
Frequently Asked Questions
Is ntpc IPO coming?
Yes, the NTPC Green Energy IPO is scheduled to open on November 19, 2024, for subscription. Check the exact dates and details for more information.
Is NTPC Green Energy IPO good?
NTPC Green Energy's IPO shows promising growth with more than doubled profits and increased assets, but it's essential to research and consider various factors before making an investment decision
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