NTPC Green Energy's Rs 10,000 crore IPO likely to unlock value for parent

The news that NTPC Green Energy (NGEL), a wholly-owned subsidiary of NTPC, has clearance from the Securities and Exchange Board of India (Sebi) to raise Rs 10,000 crore via an initial public offering (IPO), was a trigger for the NTPC stock.

 

The stock gained 2 per cent in trade on Tuesday.

 

The IPO could be in November itself as NGEL had filed its draft red herring prospectus (DRHP) in mid-September 2024.

 

NGEL’s IPO will be for fresh issue of shares.

 

NTPC is targeting 60 Gw of renewable energy (RE) capacity by FY32 through NGEL. 

 

NGEL has an