JSA acts on NTPC Green Energy's ₹10,000 crore IPO

JSA Advocates & Solicitors advised NTPC Green Energy Limited on its ₹10,000 crore Initial Public Offering (IPO), this is the third largest IPOs of 2024.

The IPO involved a fresh issue 92.59 crore equity shares

JSA's transaction team consisted of Madhurima Mukherjee Saha (Lead Partner), Siddhartha Desai (Partner), Shivali Singh (Partner), and Associates – Bhavini Mohan, Govind Roy, Ayushi Pandit, Prateek Khandelwal, Nidhi Prakriti and Ritu R Jaiswal.

The NTPC Green Energy IPO opened for subscription on November 19, 2024, and closed on November 22, 2024. The IPO offered shares within a price band of ₹102 to ₹108 per share, with a lot size of 138 shares. It garnered significant interest, achieving a subscription rate of 2.55 times, indicating moderate investor demand. The IPO shares were subsequently listed on the NSE and BSE on November 27, 2024

NTPC Green Energy is a wholly owned subsidiary of NTPC Limited and the largest public sector enterprise in renewable energies (excluding hydro) in terms of operating capacity and power generation as of fiscal 2024.

The company is classified a 'Maharatna' by the Government of India.

The company aims aims to use ₹7,500 crore raised through its IPO towards repaying or prepaying NTPC Renewable Energy Ltd.'s (NREL) outstanding loans. A portion will also be directed toward general corporate expenses, supporting its strategic growth.

Additionally, NTPC Green Energy has established a 50:50 joint venture with Maharashtra State Power Generation Company Ltd. (MAHAGENCO). This collaboration focuses on developing, operating, and maintaining renewable energy parks in Maharashtra, reinforcing NTPC’s commitment to expanding its clean energy footprint.

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