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NTPC Green Energy IPO
NTPC Green Energy Ltd
₹14,076 /138 sharesMinimum Investment
NTPC Green Energy IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹108.00 | ₹111.50 | ₹3.50 (3.24%) |
NTPC Green Energy IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 19 Nov ‘24 - 22 Nov ‘24 | ₹14,076 | 138 | ₹102 - ₹108 |
| Issue Size | IPO Doc |
|---|---|
| 10000.00Cr | RHP PDF |
Subscription rate
As of 22 Nov'24, 05:00 PM
| Qualified Institutional Buyers | 3.32x |
| Non-Institutional Investor | 0.80x |
| Retail Individual Investor | 3.33x |
| Employees | 0.77x |
| Shareholder | 1.54x |
| Total | 2.39x |
About NTPC Green Energy
Founded in
2022
Managing director
Mr. Gurdeep Singh
Parent organisation
NTPC Green Energy Ltd
Strengths & Financials of NTPC Green Energy
Strengths
Risks
As of June 30, 2024, NTPC Green Energy's portfolio included a total capacity of 14,696 MW, comprising 2,925 MW of operational projects.
By August 31, 2024, the company had operational capacities of 3,071 MW in solar energy and 100 MW in wind energy, spread across six states.
As of June 30, 2024, the company serviced 15 off-takers through its 37 solar and 9 wind projects. As of the same date, NTPC Green Energy was engaged in the construction of 31 renewable energy projects located in seven states, accounting for 11,771 MW of contracted and awarded capacities.
Even though NTPC Green Energy was started in 2022, the company has exhibited a significant increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 169.69 crore in FY23 to Rs 1,962.60 crore in FY24. PAT increased from Rs 171.23 crore in FY23 and Rs 344.72 crore in FY24.
NTPC Green Energy is dependent on a small group of utilities and power purchasers, with the top five off-takers contributing Rs 1,243.03 crore (85.74%) and Rs 1,723.04 crore (87.79%) in FY23 and FY24, respectively, to the revenue from operations, out of which in FY24 half of the company's revenue came from its largest off-taker. Any loss of this major off-taker or the group of off-takers can adversely affect the company’s operations and finances.
The profitability of NTPC Green Energy is greatly dependent on the supply and pricing of solar modules, solar cells, wind turbine generators, and other essential components. The company sources these materials from third-party suppliers. Any delay or failure in procuring these materials or any negative developments in the relations with these suppliers can disrupt the company’s operations.
A significant portion of the company's operational megawatts is concentrated in Rajasthan, with 61.74% in FY24, 59.59% in FY23, and 42.89% in FY22 located there. Any adverse developments in this region can hurt the company’s operations and financial condition.
A substantial amount of NTPC Green Energy's revenue is derived from long-term PPAs, with total renewable energy sales making up Rs 884.84 (97.19%) in FY22 and Rs 1,405.31 crore (96.94%) in FY23 of the revenue from operations. according to the company's Special Purpose Carved-Out Combined Financial Statement, and Rs 1,887.46 crore (96.17%) in FY24 according to the consolidated statements. Any inefficiencies in cost management or operational issues in power projects or any delays or cancellations in finalising PPAs after receiving LoAs can harm the project completion timelines and adversely affect the company’s operations and financial performance.
The company, its corporate promoter, and some directors are currently involved in legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
As of July 31, 2024, the company and its subsidiary reported consolidated outstanding borrowings of Rs 16,235.09 crore. Any inability to service or repay these loans can negatively impact the company’s financial standing.
NTPC Green Energy Financials
*All values are in Rs. Cr
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Application Details of NTPC Green Energy IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹102 - 108 | ₹2 Lakh |
| Employee | ₹97 - 103 | ₹2 Lakh |
| Shareholder | ₹102 - 108 | ₹2 Lakh |
| High Networth Individual | ₹102 - 108 | ₹2 - 5 Lakh |
For NTPC Green Energy IPO, eligible investors can apply as Regular, Employee & Shareholder.