About the Company:
NTPC Green Energy Ltd is a wholly owned subsidiary of NTPC Limited, a ‘Maharatna’ central public sector enterprise. Company is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 30, 2024 and power generation in Fiscal 2024.
Company’s renewable energy portfolio encompasses both solar and wind power assets with presence across multiple locations in more than six states which helps mitigate the risk of location-specific generation variability.
Company’s operational capacity was 3,220 MW of solar projects and 100 MW of wind projects across six (6) states as of September 30, 2024. We are strategically focused on developing a portfolio of utility-scale renewable energy projects, as well as projects for public sector undertakings (“PSUs”) and Indian corporates.
Company’s projects generate renewable power and feed that power into the grid, supplying a utility or offtaker with energy.
As of September 30, 2024, our “Portfolio” consisted of 16,896 MWs including 3,320 MWs of operating projects and 13,576 MWs of contracted and awarded projects.
As of September 30, 2024, our “Capacity under Pipeline, for which a memorandum of understanding (“MOU”) or term sheet has been entered with joint venture partners or offtakers but where definitive agreements have not yet been entered, consisted of 9,175 MWs. As of September 30, 2024, our Capacity under Pipeline together with our Portfolio consisted of 26,071 MWs.
Company’s Parent Group:
Company is promoted by our parent company, NTPC Limited, India’s largest power company both in terms of installed capacity as of March 31, 2024 and power generation in Fiscal 2024.
NTPC Limited is a public sector enterprise under the ownership and administrative control of the Ministry of Power (“MOP”) of the Government of India (“GoI”).
Company benefits from the support, vision, resources and experience of NTPC Limited and its consolidated subsidiaries, associates and joint ventures (the “NTPC Group”), which is looking to expand its non-fossil based capacity to 45-50% of its portfolio that will include 60 GW renewable energy capacity by 2032.
The NTPC Group is committed to our long-term success as its sustainability arm and partner and looks upon us to lead its efforts in proactively supporting India’s energy transition to cleaner renewable energy.
The following tables set forth our (i) megawatts operating, (ii) megawatts contracted & awarded and (iii) megawatts operating, contracted and awarded, as of the end of the respective periods presented. (image)
Company’s Capacity under Pipeline represents our future development opportunities.
Company’s Break-up of Revenue from operations for the periods indicated.(in millions)
Management Team:
- Mr. Gurdeep Singh (Designation: Chairman & Managing Director)
- Mr. Shanmugha Sundaram Kothandapani (Designation: Director (Projects))
Objectives of the Issue:
Fresh: (Rs. 10,000 cr)
- Investment in our wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL.
- General corporate purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Investment in our wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL | 7,500 cr |
Positives for the Company:
Company is a Preferred partner of choice by many PSUs.
- Company is considered a partner of choice by many PSUs for fulfillment of their renewable energy development goals. Company has signed joint venture agreements to produce renewable power with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL), Mahatma Phule Renewable Energy & Infrastructure Technology Ltd (MAHAPRET), Damodar Valley Corporation (DVC) and two other PSUs and have signed MOUs or term sheets with other private corporates.
Company is Promoted by NTPC Limited, which has extensive experience in executing large- scale projects, long term relationships with offtakers and suppliers and financial strength.
- Company is among the top 10 renewable energy players in India in terms of operational capacity as of September 2024.. We benefit from the support, vision, resources and experience of the
NTPC Group, which is looking to expand its non-fossil based capacity to 45-50% of its portfolio that will include 60 GW renewable energy capacity by 2032. - The NTPC Group is committed to our long-term success as its sustainability arm and partner and looks upon us to lead its efforts in proactively supporting India’s energy transition to cleaner renewable energy.
Company has a Portfolio of 16,896 MWs solar and wind projects as of September 30, 2024 with diversification across geographies and offtakers.
- Company has a large portfolio of utility-scale solar energy projects and wind energy projects, as well as projects for PSUs and Indian corporates. These projects generate power and feed that power into the grid, supplying a utility or offtaker with energy. As of September 30, 2024, we had 17 offtakers across 41 solar projects and 11 wind projects.
Financials of the Company:
| (in Crores) | FY 23 | FY 24 | Upto 30th Sept24 |
|---|---|---|---|
| Revenue | 170.6 | 2037.6 | 1132.73 |
| Net Profit | 171.2 | 344.7 | 175.3 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| NTPC Green Energy Ltd | 10 | 0.73 | 147.94 | 5.53% | 10.90 |
| Adani Green Energy Ltd | 10 | 6.20 | 259.83 | 12.81% | 62.08 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 19th November 2024 |
| Issue Closes on | 22nd November 2024 |
| Issue Price | Rs.102-108 |
| Face Value | Rs.10 |
| Retail Category Allocation | 10 % |
| Minimum Lot | 138 Shares |
| Minimum Investment | Rs.14,904 |
| Issue Constitutes | 10.98 % |
| Issue Size | Rs.10,000 cr ($1.2 billion ) |
| Market Cap | Rs.91,000 cr ($ 10.8 billion ) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 92,59,25,925 (Rs.10,000 cr) |
| Equity Shares Prior to the Issue | 750,00,00,000 |
| Equity Shares after the Issue | 842,59,25,925 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 0.73 | 147.94 | 5.53% | 10.90 | 1.98 |
Also Read: Complete List of NSE/BSE Holidays List>>
Important Dates:
| Finalization of Basis of Allotment | on or Before 25th November 2024 |
| Initiation of Refunds | on or Before 26th November 2024 |
| Credit of Equity Shares: | on or Before 26th November 2024 |
| Listing Date: | on or Before 27th November 2024 |
| Company Contact Info: |
|---|
| NTPC Green Energy Ltd NTPC Bhawan, Core -7, SCOPE Complex, 7 Institutional Area, Lodi Road, New Delhi-110 003, India. Tel: +91 11 2436 2577 Email: ngel@ntpc.co.in Website: www.ngel.in |
| Registrar to the Issue: |
|---|
| KFin Technologies Limited Selenium Tower B, Plot No.31-32 Gachibowli, Financial District Nanakramguda, Serilingampally Hyderabad 500 032, Telangana, India Tel: +91 40 6716 2222/ 1800 309 4001 E-mail: ntpcgreen.ipo@kfintech.com Website: www.kfintech.com |
| Check IPO Allotment Status: |
|---|
KfinTech Website (Click on the below Link)http://kfintech/IPO/Allotment_Status |
