As part of its renewable energy push, NGEL is developing a green hydrogen hub at Pudimadaka in Andhra Pradesh and intends to commission grid-scale battery storage for round-the-clock power

The subscription for the initial public offering (IPO) of NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, will begin next week.

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This is as per a report by Bloomberg citing people familiar with the development. If successful, this IPO could become one of the largest in the renewable energy industry.

The ₹10,000-crore IPO of NTPC Green Energy Limited (NGEL) will open up for subscription on November 19, 2024, with a price band of ₹102-108 per share

NTPC Green Energy IPO is a key step in NTPC’s goal to achieve 60 gigawatts (GW) of renewable energy capacity by FY32.

NTPC Green Energy is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of June 30, 2024, and power generation in Fiscal 2024.

The grey market premium (GMP) of NTPC Green Energy, the renewable energy arm of state-owned NTPC, has plunged sharply in recent days ahead of the opening of the initial public offering (IPO) early next week.

NTPC Green Energy set a price band on Wednesday for its initial public offering (IPO), targeting a valuation of as much as $10.8 billion in what is set to be India's third-largest IPO this year, though analysts raised concerns on the "aggressive" pricing.