NTPC Green Energy Ltd. was incorporated on April 7, 2022. The company is the largest public sector enterprise in renewable energy (excluding hydro) as of June 30, 2024, and power generation for FY24. The company focuses on utility-scale projects for public sector undertakings and Indian corporates, supplying power to the grid through long-term power purchase agreements
| Bidding Dates |
|---|
| 19 Nov 2024 - 22 Nov 2024 |
| Subscription |
|---|
| 2.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,076 | 1 | 13 | 138 | 925.9 M | ₹102 - ₹108 | 890.11 % | ₹94444.4 M - ₹100000.0 M | RHP DOC |
NTPC Green Energy Ltd. IPO SUBSCRIPTION STATUS
22 Nov '24NTPC Green Energy Ltd. IPO overall subscription rate was 2.42 times the total available shares
NTPC Green Energy Ltd. IPO retail subscription rate was 3.44 times in the retail segment
NTPC Green Energy Ltd. IPO non-institutional investor subscription rate was 0.81 times in the non-institutional investor category
NTPC Green Energy Ltd. IPO Qualified Institutional Bidder subscription rate was 3.32 times the available shares for Qualified Institutional Bidder
NTPC Green Energy Ltd. IPO Employees subscription rate was 0.8 times in the Employees category
NTPC Green Energy Ltd. IPO Reservation Portion Shareholder subscription rate was 1.6 times in the Reservation Portion Shareholder category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees | Reservation Portion Shareholder |
|---|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - | - |
22 Nov 2024 (Day 3) | 3.44x | 0.81x | 3.32x | 0.8x | 1.6x |
21 Nov 2024 (Day 2) | 2.38x | 0.34x | 0.75x | 0.4x | 1.01x |
19 Nov 2024 (Day 1) | 1.33x | 0.15x | - | 0.17x | 0.57x |
NTPC Green Energy Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 1,753.0 | 10,822.9 | 11,095.5 | -24,630.1 | 86.1% |
| H1FY24 | 2,081.6 | 10,083.2 | 9,226.2 | 582.9 | 90.7% |
| FY24 | 3,447.2 | 19,626.0 | 15,791.2 | -68,839.7 | 89.0% |
| FY23 | 1,712.3 | 1,696.9 | 172.7 | -7,341.7 | 89.2% |
| Note: The duration of FY23 is from April 7, 2022, to March 31, 2023 | |||||
NTPC Green Energy Ltd. IPO SUBSCRIPTION STATUS DETAILS
NTPC Green Energy Ltd. had 925.9 M shares on offer
NTPC Green Energy Ltd. IPO offer price was in the range ₹102 - ₹108
NTPC Green Energy Ltd. IPO minimum Investment was ₹14076
NTPC Green Energy Ltd. IPO issue size was ₹ 94444.4 M - ₹ 100000.0 M
NTPC Green Energy Ltd. had a minimum lot size of 138 Shares per application
NTPC Green Energy Ltd. NUMBER OF SHARES ON OFFER
NTPC Green Energy Ltd. IPO IMPORTANT DATES
| Issue Open Date | 19 Nov 2024 |
| Issue close Date | 22 Nov 2024 |
| Allotment Date | 25 Nov 2024 |
| Refund Date | 26 Nov 2024 |
| Demat Account Credit Date | 26 Nov 2024 |
| Listing Date | 27 Nov 2024 |
| Listing on Exchange(s) | NSE and BSE |
| NTPC Green Energy Ltd. Allotment Status | Exchange |
NTPC Green Energy Ltd. IPO subscription opened on 19 Nov 2024, and closed on 22 Nov 2024
IPO allotment for NTPC Green Energy Ltd. was finalized on Monday, 25 Nov 2024
IPO listing for NTPC Green Energy Ltd. was on NSE and BSE on Wednesday, 27 Nov 2024
NTPC Green Energy Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 108.0 |
| Listing Open Price | 111.5 |
| Listing Close Price | 121.7 |
| Listing Gain% | 3.2% |
| Current Gain% | -15.3% |
NTPC Green Energy Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NTPC Green Energy Ltd. | 91.5 | 77097.2 | 127 | 13.9 | 23.5 | 2.8 | 0.9 | 3035.1 | 23.1 | 522.6 | 9.9 | 0.7 | 9.2 |
| Adani Green Energy Ltd. | 1372.4 | 226058.5 | 126.7 | 29.7 | 16.7 | 8.6 | 1.1 | 13819 | 11.2 | 1652 | 14.4 | 10.8 | 4.3 |
| Siemens Energy India Ltd. | 3648.8 | 129941.2 | 87.3 | 1.9 | 13.8 | 25.1 | 11.5 | 7932 | 66.6 | 1100.1 | 83.4 | 41.8 | 46.7 |
| NHPC Ltd. | 76.9 | 77266.4 | 20.4 | 0.8 | 6.3 | 9.1 | 3.1 | 12686.1 | 8.2 | 3765.7 | 25.2 | 3.8 | 24.1 |
| SJVN Ltd. | 68 | 26706.9 | 41.8 | -5.6 | 5.3 | 4.5 | 1.2 | 4722.8 | 39.9 | 642.1 | -21.7 | 1.6 | -7.4 |
| ACME Solar Holdings Ltd. | 368.6 | 26055.4 | 43.2 | 0.7 | 11 | 9.8 | 1.7 | 2507.1 | 59.2 | 498.9 | 97.9 | 8.5 | 58.2 |
NTPC Green Energy Ltd. INFORMATION ON IPO ISSUE
About NTPC Green Energy Ltd.
NTPC Green Energy Ltd. was incorporated on April 7, 2022. The company is the largest public sector enterprise in renewable energy (excluding hydro) as of June 30, 2024, and power generation for FY24. The company focuses on utility-scale projects for public sector undertakings and Indian corporates, supplying power to the grid through long-term power purchase agreements
Object of the Issue
- Investment in the wholly owned Subsidiary, NTPC Renewable Energy (NREL) for repayment/prepayment, in full or in part of certain outstanding borrowings availed by NREL
- General corporate purposes
NTPC Green Energy Ltd. - PROMOTERS
| Name |
|---|
| President of India |
| NTPC Limited |
NTPC Green Energy Ltd. Book Running Lead Managers
IDBI Capital Markets & Securities Limited
ngel.ipo@idbicapital.com
HDFC Bank Limited
ntpcgreen.ipo@hdfcbank.com
IIFL Securities Limited
ngel.ipo@iiflcap.com
Nuvama Wealth Management Limited
ngelipo@nuvama.com
NTPC Green Energy Ltd. Registrar to the Offer
KFin Technologies Limited
ntpcgreen.ipo@kfintech.com
NTPC Green Energy Ltd. Strengths
Promoted by NTPC Limited
The company is promoted by NTPC Limited, known for their expertise in large-scale projects, strong supplier relationships, and financial strength. It ranks among top 10 renewable energy players by operational capacity, benefiting from NTPC group’s support and its focus on expanding non-fossil-based energy
Growing revenues
The company's portfolio of solar and wind projects, along with its focus on high capacity utilization, operational efficiency, and low operating costs, are key strengths driving revenue and EBITDA growth
Strong portfolio of solar and wind project
The company has a portfolio of 14,696 MW of solar and wind projects as of June 30, 2024, diversified across various geographies and offtakers. As of that date, it had 15 offtakers across 37 solar projects and 9 wind projects
NTPC Green Energy Ltd. Risks
Dependent on third party suppliers
The company's business and profitability depend heavily on the availability and cost of solar modules, solar cells, wind turbine generators, and other materials. Relying on third-party suppliers, any disruptions in supply or price volatility could adversely impact its business and financial condition
Geographically concentrated
The company’s operating renewable energy projects are concentrated in Rajasthan. Significant social, political, economic, or environmental disruptions in the region could adversely affect its business and financial condition
IPO FAQs
The promoters of the company are President of India and NTPC Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 102.0 - 108.0.
The IPO application opens on Nov 19, 2024 and closes on Nov 22, 2024.
The minimum lot size for the IPO is 138. The maximum lot size for the IPO is 1794.
For all category investors, the minimum application amount for this IPO is Rs. 14,076.0, the maximum value for this IPO is Rs 193,752.0.
This IPO will be allotted on Nov 25, 2024.
The refund will be credited to your account on Nov 26, 2024.
The allotted shares will be credited to your demat on Nov 26, 2024.
NTPC Green Energy Ltd.’s shares listed on the stock exchanges on Nov 27, 2024.