NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC Limited, has received final approval from the Securities and Exchange Board of India (SEBI) to launch a Rs 100 billion initial public offering (IPO).
The IPO will be a fresh issue of equity shares with a face value of Rs 10 each and over Rs 75 billion from the IPO proceeds will be allocated to NTPC Renewable Energy Limited (NREL). This amount will be used to repay or prepay outstanding debts of NREL, either in full or partial.