NTPC Green Energy
Book Building issueMainboardNSE₹10,000 Cr issue
+3.33%
Listing gain over issue price
Issue size
₹10,000 Cr
1 lot at cut-off
₹14,904
Lot size
138shares
Open
19 Nov 2024
Close
22 Nov 2024
Allotment
25 Nov 2024
Listing
27 Nov 2024
Listing performance
Issue price
₹108
Listed at
₹111.60
Listing-day close
₹122.10
Latest price
₹81.21
Close on 23 Oct 2026
Listing gain
+3.33%
Return since issue
-24.81%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 19 Nov 2024 – 22 Nov 2024
- Listing date
- 27 Nov 2024
- Face value
- ₹10 per share
- Issue price
- ₹108 per share
- Lot size
- 138 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹10,000 Cr
- Market cap at offer price
- ₹91,000 Cr
- Promoter holding
- 100.00% → 89.01% pre-issue → post-issue
- ISIN
- INE0ONG01011
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- IDBI Capital Markets Services Ltd.
- Registered office
- NTPC Bhawan, Core-7, SCOPEComplex 7 Institutional Area, Lodi Road, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 36,66,66,666 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 138 shares per lot, in multiples, at ₹108
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 138 | ₹14,904 |
| Retail (max) | 13 | 1,794 | ₹1,93,752 |
| S-HNI (min) | 14 | 1,932 | ₹2,08,656 |
| S-HNI (max) | 67 | 9,246 | ₹9,98,568 |
| B-HNI (min) | 68 | 9,384 | ₹10,13,472 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
36,66,66,666
Anchor portion
₹3,960 Cr
at ₹108 per share
Valuation and performance
Valuation at offer price
₹108 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 0.46 | 0.42 |
| P/E (×) | 234.78 | 257.14 |
| Price to book (×) | 9.89 | — |
| Market cap | — | ₹91,000 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 2.14%
- Debt / equity
- 1.91
- PAT margin
- 16.20%
- NAV per share
- ₹10.92
- Price to book
- 9.89
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About NTPC Green Energy
NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited, a Maharatna central public sector enterprise, incorporated on April 7, 2022, for the reorganization of NTPC Limited's renewable energy business. The company acquired renewable energy assets comprising 15 solar and wind units from NTPC Limited on February 28, 2023, and 100% equity shareholding in NTPC Renewable Energy Limited. As of September 30, 2024, the company operates 3,220 MW of solar projects and 100 MW of wind projects across six states. The company generates revenue through the sale of solar and wind power pursuant to 25-year Power Purchase Agreements (PPAs) with Indian government agencies and public utilities at fixed tariffs. The company had contracted and awarded capacity of 13,576 MW as of September 30, 2024, positioning it as a significant player in India's renewable energy sector.
Company Analysis
from RHPNTPC Green Energy Limited is the largest renewable energy public sector enterprise (excluding hydro) in India, generating solar and wind power through long-term power purchase agreements with government agencies and utilities.
NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited, a Maharatna central public sector enterprise, incorporated on April 7, 2022, for the reorganization of NTPC Limited's renewable energy business. The company acquired renewable energy assets comprising 15 solar and wind units from NTPC Limited on February 28, 2023, and 100% equity shareholding in NTPC Renewable Energy Limited. As of September 30, 2024, the company operates 3,220 MW of solar projects and 100 MW of wind projects across six states. The company generates revenue through the sale of solar and wind power pursuant to 25-year Power Purchase Agreements (PPAs) with Indian government agencies and public utilities at fixed tariffs. The company had contracted and awarded capacity of 13,576 MW as of September 30, 2024, positioning it as a significant player in India's renewable energy sector.
renewable energysolar power generationwind power generationpower generation
Objects of the Issue
- Investment in wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/prepayment of certain outstanding borrowings ₹75,000.00 million p.29
- General corporate purposes p.29
- Investment in wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/prepayment of certain outstanding borrowings availed by NREL ₹ 75,000.00 million p.130
- General corporate purposes [●] p.133
- Repayment and/or prepayment of borrowings of the subsidiary NTPC Renewable Energy Limited (NREL) ₹75,000.00 million p.253
- Investment in wholly owned Subsidiary NTPC Renewable Energy Limited (NREL) for repayment/prepayment of certain outstanding borrowings p.125
Issue Structure
- Total Issue
- ₹100,000.00 million
- Fresh Issue
- Fresh issue of up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹100,000.00 million
- Offer for Sale
- Not applicable
- Price Band
- [●] per Equity Share (within a band to be determined)
- Lot Size
- [●] Equity Shares (minimum bid lot to be announced)
- Face Value
- ₹10 per Equity Share
Business Model
The company generates revenue through long-term Power Purchase Agreements (25-year terms) with government agencies and public utilities for the sale of electricity generated from solar and wind power projects at fixed tariffs. Revenue is primarily derived from renewable energy sales (96.17% of revenue from operations in Fiscal 2024), with solar accounting for 93.77% and wind accounting for 2.40% of renewable energy sales in Fiscal 2024.
Business Segments
Generation and sale of solar power through power purchase agreements with government agencies and utilities
Generation and sale of wind power through power purchase agreements with government agencies and utilities
Generation of electricity from solar photovoltaic projects
Generation of electricity from wind power projects
Development, construction and operation of solar power projects
Development, construction and operation of wind power projects
Development, building, owning, operation and maintenance of utility-scale grid-connected solar power projects
Development, building, owning, operation and maintenance of utility-scale grid-connected wind power projects
Consultancy, project management and supervision fees; Government grants
Development, construction, operation and maintenance of utility-scale solar photovoltaic power projects. The company uses both turnkey EPC contract models and models where it takes responsibility for procurement of major equipment with contractor handling construction and commissioning.
Development, construction, operation and maintenance of utility-scale wind energy projects. Generally uses turnkey EPC model with OEMs for manufacturing, installing and commissioning wind turbines, though has started bifurcating project scope into balance of plant and supply/installation of wind turbine generators.
Consultancy, project management, supervision services, and revenue from government grants related to renewable energy operations.
Generation of electricity through solar photovoltaic and solar thermal power plants
Generation of electricity through wind power projects
Consultancy, project management and supervision services for renewable energy projects
The Group predominantly operates in one segment i.e. Generation of Electricity from 15 solar and wind renewable energy projects. The Group has no other reportable segment.
Developing, owning and operating a diversified portfolio of renewable energy power plants (solar and wind) in India, with revenue primarily from sale of energy to state utilities and bulk customers at CERC-approved tariff rates.
Utility-scale solar photovoltaic power generation and sale to power purchasers under power purchase agreements
Utility-scale wind power generation and sale to power purchasers under power purchase agreements
Development of a Green Hydrogen Hub in Andhra Pradesh on a 1,200-acre leased land for 33 years
SWOT Analysis
Strengths
- • Largest renewable energy PSE by operating capacity (excluding hydro) and power generation in FY2024(p.27)
- • Wholly owned subsidiary of NTPC Limited, a Maharatna CPSE with strong backing and brand recognition(p.27)
- • Large operating renewable energy portfolio with 3,320 MW operating capacity as of September 30, 2024(p.27)
- • Significant contracted and awarded pipeline of 13,576 MW providing growth visibility(p.41)
- • Long-term 25-year PPAs with government entities providing revenue stability(p.45)
- • Government utility offtakers provide credit stability(p.50)
- • Significant installed capacity portfolio with growth trajectory(p.54)
- • Profitable operations with consistent earnings(p.70)
- • Strong credit ratings reflect financial capacity(p.61)
- • Backed by NTPC Limited, one of India's largest power companies with five decades of legacy(p.138)
- • Large renewable energy portfolio of 16,896 MWs with 3,320 MWs operating and 13,576 MWs contracted & awarded(p.138)
- • Strong execution capabilities demonstrated through NTPC Group's five decades of successful operations(p.138)
- • Healthy interest coverage ratio of 2.60 times (Sept 30, 2024) maintained with diversified portfolio and long-term PPAs(p.138)
- • AAA credit rating from CRISIL and access to low-cost capital through NTPC Group's strong credit relationships(p.138)
- • Backed by NTPC Limited, India's largest power company with 5 decades of experience(p.208)
- • Top 10 renewable energy player in India with diversified portfolio across multiple states(p.208)
- • All offtakers are government agencies with long-term PPAs averaging 25 years(p.209)
- • Highest credit ratings from major rating agencies reflecting financial strength(p.208)
- • Strong operational performance with high EBITDA margins(p.206)
- • Subsidiary of NTPC Group with strong track record in renewable energy project execution(p.211)
- • Significant contracted and awarded capacity pipeline demonstrating competitive bidding success(p.211)
- • Strong operating margins and revenue growth with CAGR of 46.82% in revenue from operations(p.213)
- • High operating EBITDA margins of 86-91% demonstrating operational efficiency(p.213)
- • AAA credit rating from CRISIL enabling low cost of capital access(p.213)
- • Experienced management team with decades of power industry experience(p.213)
- • Market leader in solar capacity additions with 3.5 GW won in Fiscal 2024(p.214)
- • Wholly-owned subsidiary of NTPC Limited with access to parent company resources and expertise(p.304)
- • Established portfolio of renewable energy assets across multiple technologies and geographies(p.304)
- • Significant property, plant and equipment base with substantial generation capacity(p.299)
- • Strategic joint venture with Indian Oil Corporation for green energy development(p.327)
- • Substantial renewable energy capacity portfolio across solar and wind projects(p.381)
- • Established power generation operations with long-term power purchase agreements from state utilities(p.391)
- • Backed by NTPC Limited, a major central public sector undertaking with government majority ownership(p.346)
- • Growing revenue from renewable energy operations(p.377)
- • Largest renewable energy PSE by operating capacity and generation(p.437)
- • Geographically diversified portfolio across multiple states mitigates location-specific risk(p.437)
- • Strong backing from NTPC Group with substantial resources and experience(p.438)
- • Long-term PPAs with government offtakers providing revenue stability(p.440)
- • Experienced in-house management team with decades of power industry experience(p.441)
- • Diversified renewable energy portfolio with 15 operational solar/wind units generating electricity(p.470)
- • Established tariff-based revenue model with CERC-approved rates providing revenue predictability(p.461)
- • Strong operational cash generation capability demonstrated across fiscal periods(p.508)
- • Substantial operational renewable energy capacity with proven execution track record(p.515)
- • Access to significant capital through parent company backing and established banking relationships(p.524)
- • Established power purchase agreements with government-controlled offtakers providing revenue visibility(p.518)
Weaknesses
- • Highly concentrated customer base with top 5 offtakers accounting for 87% of FY2024 revenue(p.37)
- • Single largest customer (Telangana Discoms) contributes ~50% of revenue and poses concentration risk(p.38)
- • Heavy dependence on third-party suppliers with top 10 suppliers accounting for 92.65% of supplies(p.39)
- • High financial leverage with debt-to-equity ratio of 2.08x as of September 30, 2024(p.49)
- • Substantial outstanding borrowings of ₹170,574.96 million constraining financial flexibility(p.49)
- • Geographic concentration of operating capacity with 62.20% in Rajasthan as of September 30, 2024(p.25)
- • Key managerial personnel (excluding Executive Directors) are on secondment from NTPC with no formal agreement(p.48)
- • Do not own the NTPC trademark and depend on promoter consent for brand usage(p.48)
- • High trade receivable days indicating collection delays(p.51)
- • Substantial unsecured debt exposure(p.57)
- • 100% floating rate debt vulnerable to interest rate volatility(p.57)
- • Entire workforce on secondment from promoter with no formal agreement(p.58)
- • Limited operating history as independent company(p.65)
- • Land title issues with some properties not transferred(p.82)
- • High leverage with Net Debt/Equity ratio of 1.91x as of September 30, 2024(p.142)
- • Dividend payment obligations under CPSE Capital Restructuring Guidelines requiring minimum 30% of PAT or 5% of net worth(p.94)
- • Majority shareholder NTPC Limited holds 100% pre-issue equity capital with potential to dilute shareholding(p.120)
- • Outstanding borrowings of ₹170,574.96 million on consolidated basis as of September 30, 2024(p.130)
- • High leverage with net debt-to-equity ratio of 1.91 as of September 2024(p.206)
- • Significant capital work-in-progress requiring continued investment(p.206)
- • Execution risk with 13,576 MWs of contracted and awarded projects under construction(p.203)
- • Dependence on limited number of government offtakers creates counterparty risk(p.199)
- • Portfolio concentration in two states (Rajasthan and Gujarat)(p.210)
- • High customer concentration with largest offtaker accounting for 47.07% of revenue(p.227)
- • Top 9 offtakers represent 97.96% of revenue indicating heavy customer concentration(p.227)
- • Interest coverage ratio of only 2.60x indicates moderate leverage risk(p.214)
- • Net Debt/Equity ratio of 1.91 times as of September 30, 2024 indicates significant leverage(p.214)
- • Heavy dependence on long-term leasehold land with 45,700 acres leased versus 8,900 acres owned(p.211)
- • Majority of revenue (90.78%) from solar with significant wind exposure increasing(p.219)
- • Dependency on NTPC Limited for seconded employees and payroll management(p.296)
- • Significant capital work-in-progress not yet generating returns(p.299)
- • High financial leverage with substantial borrowings(p.299)
- • Title deeds not yet transferred for significant property holdings pending legal formalities(p.323)
- • Internal control deficiency in trade receivable balance confirmation process(p.296)
- • Lack of internal audit system adequate to company size and business scope(p.296)
- • Substantial debt burden with floating-rate borrowings exposed to interest rate risk(p.350)
- • Significant capital work-in-progress with execution risk on project completion(p.361)
- • High dependence on employee secondment from NTPC with associated cost allocation complexity(p.339)
- • Land title issues with several projects pending legal formalities for transfer of ownership(p.366)
- • Lease approval pending for renewable energy projects awaiting lessor consent(p.382)
- • Significant capital intensity and debt reliance for project development(p.443)
- • Time gap between upfront investments and revenue generation from projects(p.442)
- • Heavy exposure to interest rate fluctuations on floating-rate borrowings(p.443)
- • High dependence on government grants for operating revenue, representing material portion of other operating revenue(p.487)
- • Significant reliance on bulk customers (state utilities) concentrating credit risk in single counterparty category(p.513)
- • High leverage with total borrowings of ₹170,574.96 million relative to equity base(p.507)
- • Substantial capital commitments remaining for projects under execution(p.510)
- • High finance costs as percentage of revenue consuming profitability(p.489)
- • Significant concentration of revenue from a limited number of customers, with top 5 offtakers representing >87% of revenue(p.518)
- • Substantial debt burden with significant floating rate exposure(p.520)
- • Material property titles held in promoter's name with pending legal formalities(p.516)
- • Multiple ongoing litigation matters related to change-in-law claims and project delays(p.527)
- • Dependence on completion of capital works-in-progress projects for growth(p.516)
Opportunities
- • India ranks 4th globally in renewable energy capacity and has significant growth potential(p.27)
- • Renewable energy capacity in India nearly tripled from 63 GW (2012) to 201 GW (September 2024)(p.27)
- • Renewable energy constitutes ~45% of India's total installed generation capacity as of September 2024(p.27)
- • Large contracted and awarded pipeline of 13,576 MW provides near-term revenue growth(p.41)
- • Plan to expand into hybrid solar-wind projects and battery energy storage systems(p.40)
- • Rapid expansion of renewable energy portfolio through bidding(p.54)
- • Diversification into green hydrogen and energy storage(p.72)
- • Strategic joint ventures with PSUs and private companies(p.75)
- • Growing government support for renewable energy expansion(p.70)
- • Expansion through 36 renewable energy projects under construction in 6 states adding 13,576 MWs capacity(p.138)
- • Debt reduction through use of issue proceeds to repay/prepay borrowings, reducing consolidated debt to ₹95,574.96 million(p.130)
- • Leveraging NTPC Group's support and diversified portfolio with long-term PPAs for stable cash flows(p.138)
- • Public market listing to enhance visibility, brand image and create liquidity for equity shares(p.129)
- • India's target of 50% renewable energy capacity by 2030 creating massive demand(p.207)
- • Expected solar capacity additions of 137-142 GW over FY2025-2029(p.207)
- • Wind capacity additions expected to reach 34-36 GW over FY2025-2029(p.208)
- • Growing green hydrogen ambitions with 5 MMTPA production target by 2030(p.190)
- • Power demand expected to grow 5.5-6.0% annually driven by infrastructure and industrialization(p.207)
- • India expected to add 137-142 GW solar and 34-36 GW wind capacity over Fiscal 2025-2029(p.214)
- • Develop green hydrogen hub with 1,100 TPD capacity at Pudimadaka in Andhra Pradesh(p.216)
- • Grid-scale battery storage opportunity with India requiring 41.7 GW/208 GWh by Fiscal 2030(p.215)
- • Front-runner status in Round-the-Clock renewable energy with 2.7 GW under development(p.216)
- • Joint venture growth opportunities with PSUs including 25 GW capacity commitment from Rajasthan(p.216)
- • Potential to leverage NTPC Group economies of scale for cost reduction in EPC and equipment procurement(p.217)
- • Large-scale solar park development with government support in multiple states(p.323)
- • Expansion into green hydrogen and green molecules production(p.304)
- • Access to government capital grants for renewable energy projects(p.331)
- • Strategic land holdings across high-potential renewable energy zones(p.327)
- • Expansion of renewable energy capacity under national monetisation pipeline(p.381)
- • Government policy support for renewable energy development and solar/wind power projects(p.379)
- • Development of Green Hydrogen Hub on large landholdings(p.358)
- • Access to capital through initial public offering to fund growth and reduce debt burden(p.381)
- • Substantial pipeline of 9,175 MW under development through JVs and MOUs(p.437)
- • Strategic expansion into green hydrogen, battery storage and new energy solutions(p.443)
- • NTPC Group's commitment to 60 GW renewable energy capacity by 2032(p.438)
- • Partnership opportunities with PSUs and private corporates for renewable development(p.440)
- • Planned capacity additions and ongoing project construction providing growth trajectory(p.502)
- • Expansion into new revenue streams including consultancy and project management services(p.495)
- • Government support through schemes like MNRE for renewable energy capacity expansion(p.493)
- • Establishment of joint ventures to develop renewable energy capacity(p.503)
- • Significant additional renewable energy capacity in pipeline under development(p.528)
- • Government support for renewable energy expansion including CPSU Scheme allocations(p.527)
- • Expansion of solar and wind power generation portfolio(p.519)
- • Green hydrogen hub development project on 1,200 acre site with 33-year lease(p.516)
Threats
- • Risk of customer non-payment or deterioration in financial condition of utility offtakers(p.38)
- • Volatility in prices and availability of critical components like solar modules and wind turbines(p.39)
- • Project construction delays and cost overruns due to external factors(p.42)
- • Geographic concentration in Rajasthan exposes operations to region-specific risks(p.25)
- • Fixed tariff structure provides no flexibility to respond to cost increases(p.45)
- • Significant competition from both traditional and renewable energy companies(p.50)
- • Post-closing actions from acquisition of renewable energy assets still pending completion(p.47)
- • Risk of lender step-in rights on projects under certain default circumstances(p.46)
- • Competition from other renewable and traditional energy sources(p.50)
- • Reduced demand from lower fossil fuel costs(p.50)
- • Payment delays and credit risk from utility offtakers(p.50)
- • Project development risks including delays and cost overruns(p.52)
- • Unfavorable weather and meteorological conditions(p.60)
- • Seasonal revenue fluctuations(p.59)
- • Regulatory policy changes reducing renewable energy support(p.56)
- • Curtailment orders from load dispatch centres(p.66)
- • Transmission and grid infrastructure constraints(p.68)
- • Land acquisition and title uncertainties(p.81)
- • Stock price volatility due to surveillance measures and market conditions post-listing(p.94)
- • Currency exchange rate fluctuations affecting dividend and share sale proceeds for foreign investors(p.95)
- • Foreign investment restrictions under Indian law and RBI approval requirements(p.98)
- • No guarantee of timely listing on BSE and NSE or active trading market development(p.97)
- • Majority shareholder NTPC Limited may sell shareholding after lock-in period affecting share price(p.96)
- • Tax liabilities on capital gains and dividend distributions for shareholders(p.95)
- • Counterparty credit risk from financially weak state distribution companies(p.199)
- • Highly competitive renewable energy market with numerous players(p.199)
- • Risk of adverse shifts in government policies and regulatory changes(p.199)
- • Limited land availability and acquisition challenges for contiguous renewable energy sites(p.199)
- • Transmission connectivity bottlenecks for renewable energy evacuation(p.199)
- • Climate change and extreme weather events affecting renewable asset performance(p.199)
- • Business is seasonal with solar output decreasing in monsoon seasons(p.240)
- • Wind business subject to seasonal variation with low wind season October to March(p.240)
- • Dependence on third-party suppliers for solar modules, inverters, and wind turbines(p.235)
- • Import dependence with 18.13% of supplies from China in Fiscal 2024(p.235)
- • Trade restrictions on solar and wind equipment imports could increase costs(p.235)
- • Green hydrogen not commercially viable as of Red Herring Prospectus date(p.216)
- • Uncertainty in CERC tariff approval affecting revenue recognition on provisional basis(p.312)
- • Significant finance costs reducing profitability despite revenue growth(p.300)
- • Lease agreements with lessor consent pending for certain renewable energy projects(p.282)
- • Impairment risk on property, plant and equipment dependent on future cash flows(p.320)
- • Dividend payment obligations to parent company despite early-stage profitability(p.285)
- • Commodity price volatility affecting equipment and material costs for power plant construction(p.361)
- • Interest rate risk on floating-rate borrowings from sensitivity to market movements(p.352)
- • Regulatory and tariff determination risk from CERC proceedings(p.361)
- • Power purchase agreement performance and revenue collection risk from state utility beneficiaries(p.348)
- • Weather and natural disaster risk affecting solar and wind plant generation(p.361)
- • Generation heavily dependent on meteorological and weather conditions(p.443)
- • Competitive bidding process for new solar project acquisition(p.442)
- • Regulatory changes may reduce or eliminate government incentives and benefits(p.443)
- • Project completion delays and cost overruns from various factors(p.442)
- • External dependency on tariff approval processes and regulatory modifications affecting revenue(p.461)
- • Exposure to interest rate fluctuations impacting debt servicing costs(p.493)
- • Dependence on favorable weather conditions and resource availability for power generation(p.469)
- • Foreign exchange risk exposure on transactions denominated in foreign currencies(p.512)
- • Seasonal variability in energy output affecting revenue predictability(p.519)
- • Regulatory and tariff determination risks from changes in law and tax regimes(p.528)
- • Increasing competition in renewable energy sector(p.519)
- • Risk of delays in obtaining requisite environmental and regulatory clearances(p.542)
- • Transmission and grid connectivity challenges affecting power evacuation(p.529)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| NTPC Limited | Promoter | 100.00% | — |
| President of India, acting through the Ministry of Power, Government of India | Promoter | 0.00% | — |
| NTPC Limited | Corporate Promoter | 100.00% | — |
| NTPC Limited | Corporate Promoter | 100.00% | [●] |
| President of India, acting through the Ministry of Power, Government of India | Promoter | Nil | Nil |
| NTPC Limited | Parent Company / Promoter | — | — |
| NTPC Limited | Corporate Promoter/Holding Company | — | — |
| President of India (through Ministry of Power) | Individual Promoter | — | — |
| NTPC Limited | Corporate Promoter | 100.00% | — |
| NTPC Limited (including its Nominees) | Promoter | — | 100% |
| NTPC Limited | Promoter/Parent Company | 100% | 100% |
| NTPC Limited | Promoter/Corporate Promoter | 100.00% | — |
Leadership
Gurdeep Singh · Chairman
Rajiv Gupta · CEO
Neeraj Sharma · CFO
Manish Kumar · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
NTPC Green Energy IPO FAQs
What is the lot size of NTPC Green Energy IPO?
The minimum lot size of NTPC Green Energy IPO is 138 shares. One lot costs ₹14,904 at the cut-off price.
When does NTPC Green Energy IPO open and close?
NTPC Green Energy IPO opened for subscription on 19 Nov 2024 and closed on 22 Nov 2024.
What is the listing date of NTPC Green Energy IPO?
NTPC Green Energy IPO listed on 27 Nov 2024.