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NTPC Green Energy IPO
Price Band
₹102.0–108.0
Issue Size
₹10000.0 Cr
Lot Size
138 shares
Min Investment
₹14,904
GMP
+₹1.0 (0.93%)
Issue Price
₹108.0
Subject to Sauda
₹100
Paid only if allotted
NTPC Green Energy IPO AI Summary
- NTPC Green Energy IPO is listed on BSE, NSE in the Power Generation sector.
- Price band: ₹102.0–₹108.0 per share, lot size 138 shares (min. investment ₹14,904).
- Subscription window: 19 Nov–22 Nov 2024, listing on 27 Nov 2024.
- Current GMP is +₹1.0 (0.93%), an estimated listing price of ₹109 — unofficial and can change daily.
NTPC Green Energy Limited is entering the market with a focus on renewable energy projects, backed by NTPC Limited. The IPO aims to raise ₹10,000 Cr, with significant proceeds allocated to its subsidiary for debt repayment and corporate purposes. Investors should consider the company's financial health, market conditions, and their own risk tolerance before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
NTPC Green Energy IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 22 Nov 2024 — not a current signal.
24 of 33 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
NTPC Green Energy IPO Grey Market Premium (GMP) Today
GMP
+₹1.0
GMP %
+0.93%
Est. Listing
₹109.0
Updated: 25 Jul 2026 14:03
About the Company
Incorporated in April 2022, NTPC Green Energy Limited is a wholly-owned subsidiary of NTPC Limited. NTPC Green is a renewable energy company that focuses on undertaking projects through organic and inorganic routes. As of August 31, 2024, the company had an operational capacity of 3,071 MW from solar projects and 100 MW from wind projects across six states. As of June 30, 2024, the company's Portfolio consisted of 14,696 MW, including 2,925 MW of operating projects and 11,771 MW of contracted and awarded projects. As of June 30, 2024, the company had 15 off-takers across 37 solar projects and 9 wind projects. As of June 30, 2024, the company is constructing 31 renewable energy projects in 7 states, totaling 11,771 MW. Competitive Strength Promted by NTPC Limited, with its extensive experience in large-scale project execution, maintains strong relationships with offtakers and suppliers and showcases significant financial strength. As of June 2024, the company has a Portfolio of 14,696 MWs solar and wind projects. Experienced team in renewable energy project execution. As of June 30, 2024, the workforce comprised 234 employees, and the company utilised the services of 45 contract labourers.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 32,408.30 | 27,206.42 | 18,431.40 |
| Total Income | 1,132.74 | 2,037.66 | 170.63 |
| Profit After Tax | 175.30 | 344.72 | 171.23 |
| NET Worth | 8,189.18 | 6,232.14 | |
| Reserves and Surplus | 596.08 | 512.60 | 167.88 |
| Total Borrowing | 17,057.50 | 12,796.74 |
Key Ratios
EPS
₹0.46
NAV
₹10.92
ROE
7.39%
RoNW
2.14%
P/B Value
9.89
P/E Ratio
234.97
Market Cap
₹91000.00 Cr
PAT Margin
16.20%
Debt/Equity
1.91
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Renew Energy Global PLC | 290.15 | 3.94% | 47.05 | 9.94 | 9.92 |
| Adani Green Energy Ltd | 62.08 | 12.81% | 259.83 | 6.21 | 6.2 |
| NTPC Green Energy Limited This IPO | 10.9 | 5.53% | — | 0.73 | 0.73 |
Promoters
President of India
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in the wholly owned Subsidiary, NTPC Renewable Energy Limited (NREL) for repayment/ prepayment, in full or in part of certain outstanding borrowings availed by NREL; and 7,500.00 2 General corporate purposes 2,446.49
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹170.63 Cr in the year ending 31 Mar 2023, rising to ₹2,037.66 Cr by 31 Mar 2024, before decreasing to ₹1,132.74 Cr by 30 Sep 2024. However, the figure from 30 Sep 2024 is a 9-month figure and not directly comparable to the full year figures.
Profit Trend
Profit after tax was ₹171.23 Cr in the year ending 31 Mar 2023, increasing to ₹344.72 Cr by 31 Mar 2024, then decreasing to ₹175.30 Cr by 30 Sep 2024. Similar to revenue, the most recent figure is from a 9-month period and not directly comparable to the full year figures.
Valuation
Priced at roughly 234.97 times trailing earnings, versus peers trading at a P/E range of 47.05 to 259.83.
Key Risks
Potential risks include reliance on debt financing, regulatory changes in the renewable energy sector, and the execution risks associated with large-scale projects.
Grey Market Premium, Explained
The grey market premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand and supply dynamics for the shares before they officially start trading on the stock exchange.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance, considering factors such as the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or not comfortable with the inherent uncertainties of new IPOs may want to avoid this offering, particularly given the company's reliance on debt and the competitive nature of the renewable energy sector.
IPO Timeline, Explained
The IPO opens for subscription on November 19, 2024, and closes on November 22, 2024. Allotment of shares will be done on November 25, 2024, with the listing date set for November 27, 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company’s performance. Investors should be aware that while some IPOs may see significant gains on the first day, others may not perform as expected.
This evaluation is generated from NTPC Green Energy's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is NTPC Green Energy IPO GMP today?
NTPC Green Energy IPO GMP today is +₹1.0 (0.93%), indicating an estimated listing price of ₹109. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of NTPC Green Energy IPO?
The price band of NTPC Green Energy IPO is ₹102.0–₹108.0 per share.
When does NTPC Green Energy IPO open and close?
NTPC Green Energy IPO opens on 19 November 2024 and closes on 22 November 2024.
When does NTPC Green Energy IPO list on the stock exchange?
NTPC Green Energy IPO listed on 27 November 2024 at ₹109.0.
What is the lot size for NTPC Green Energy IPO?
The lot size for NTPC Green Energy IPO is 138 shares, requiring a minimum investment of ₹14,904.
What is the price band for the IPO?
The price band for the IPO is ₹102.0 to ₹108.0.
What is the minimum investment required?
The minimum investment required is ₹14,904.
What is the lot size for this IPO?
The lot size is 138 shares.
When is the listing date for the shares?
The listing date is November 27, 2024.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected premium or discount at which the shares may list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Nov 2024
Close
22 Nov 2024
Allotment
25 Nov 2024
Listing
27 Nov 2024
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