NTPC Green Energy Ltd., the renewable energy subsidiary of NTPC Ltd., is preparing to commence trading after a successful initial public offering (IPO) that raised $1.2 billion. The company, valued at approximately $11 billion, priced its shares at 108 rupees ($1.2806) each, which was the highest end of the range.
The IPO was fully subscribed, indicating strong investor interest in renewable energy stocks due to anticipated growth in India's power consumption. The funds raised will be used to support NTPC Green's renewable energy initiatives and repay existing loans, positioning the company for future expansion in the dynamic energy sector.