Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
NTPC Green Energy Ltd., a subsidiary of state-owned NTPC Ltd., is reportedly aiming for a valuation of approximately $12 billion in what could be one of India's most significant initial public offerings (IPO) in the renewable energy sector. Sources familiar with the matter have disclosed that the company is in discussions with advisers to price its IPO at over Rs 100 ($1.18) per share, potentially raising up to Rs 10,000 crore.
The IPO is expected to open for subscriptions on November 18 and close on November 21, though final details such as valuation, price range, and timing may still be adjusted. Representatives from NTPC Green have not yet commented on these reports.
This IPO follows the recent successful listing of Waaree Energies Ltd., which raised $514 million and was oversubscribed more than 70 times. Waaree’s IPO attracted significant investments from major players like Goldman Sachs, BlackRock, and Morgan Stanley, alongside both small and high-net-worth investors.
Investor interest in India’s renewable energy sector has been robust, fueled by Prime Minister Narendra Modi’s commitment to renewable energy expansion. The sector has seen over 100 gigawatts of capacity added in the past decade, surpassing expectations.
Additionally, ACME Solar Holdings Ltd. is preparing for its own $344 million IPO, which has also garnered strong interest from both retail and institutional investors.
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