NTPC Green Energy has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 10,000 crore through an initial public offering (IPO).
The company plans to use Rs 7,500 crore from the proceeds to repay or prepay part or all of the outstanding loans of its subsidiary, NTPC Renewable Energy (NREL). The remaining funds will go toward general corporate purposes. IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the book running lead managers to the issue.
A 'Maharatna' central public sector enterprise, NTPC Green Energy holds a renewable energy portfolio that includes solar and wind power assets spread across more than six states.
