NTPC Green Energy Shortlists Four Banks for Proposed INR 10,000 Crore IPO
IDBI Capital Markets and Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been enlisted as the selected investment banks after an evaluation process encompassing both financial and technical proposals.
April 12, 2024. By Abha Rustagi
IDBI Capital Markets and Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management have been enlisted as the selected investment banks after an evaluation process encompassing both financial and technical proposals.
Reportedly, IDBI Capital has clinched the mandate with the most competitive bid, highlighting its prowess in securing this assignment. Despite stiff competition from ten contenders, including industry giants like Goldman Sachs, Axis Capital, ICICI Securities, and DAM Capital, NTPC Green's decision reflects a strategic alignment with partners possessing expertise in the renewable energy domain and a commendable track record in managing high-profile IPOs.
The decision by NTPC Green to venture into the capital markets comes at a critical phase as it seeks to fortify its renewable energy expansion endeavors, particularly in solar energy, green hydrogen, and green ammonia sectors. The IPO proceeds are designated to support both ongoing projects and future initiatives, ensuring sustained momentum in the company's mission to deliver clean energy solutions.
Established in April 2022 as a wholly-owned subsidiary of NTPC, NTPC Green has emerged as a noteworthy player in India's transition towards renewable energy. Earlier considerations to divest a 20 percent stake in NTPC Green to a strategic investor garnered interest from Malaysian energy major Petronas. However, the subsequent decision to forgo the stake sale highlights NTPC Green's confidence in harnessing the public markets for capital infusion.
A memorandum of understanding inked between NTPC Green and the Maharashtra government in January underlines the company's commitment to driving green hydrogen production and associated derivatives, alongside substantial investments in pumped storage projects and renewable energy capacities.
Following the triumphant INR 2,150 crore share sale of the Indian Renewable Energy Development Agency (IREDA) in November 2023, investor confidence in state-owned entities is on the rise.
please contact: contact@energetica-india.net.
Vimal Kumar
Co-Founder & CEO
IONAGE Tackles EV Charging Network Reliability with AI-Driven Solutions
Vikas Singh
General Manager-Global Business
Jinchen Machinery is Committed to Ensuring Consistent, High-Quality Manufacturing
Harendra Tomar
Leader- Business Development
Sungrow installed over 605 GW of power converters worldwide as of June 2024
Sunil Kumar
Director
At Giraffa, Our Goal is to Understand Customer Needs
Sunil Thamaran
Sr. VP and Managing Director-India
Enphase Energy Enhancing Solar Efficiency with its Million-Hour Tested Microinverters