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NTPC Green Energy, a wholly-owned subsidiary of India's largest power generating company NTPC, has formally requested the Securities and Exchange Board of India (Sebi) to expedite the approval process for its upcoming Rs 10,000 crore initial public offering (IPO). This move signifies a strategic step by NTPC Green Energy to enter the public market and further bolster its renewable energy ventures.
The company had submitted its draft red herring prospectus (DRHP) to Sebi last week, marking the commencement of the regulatory review process. Typically, Sebi takes between two to four months to scrutinize the DRHP and issue its final observations. This procedural timeline often extends the overall period between initial filing and IPO launch to over six months. However, NTPC Green Energy, aiming for a late-October IPO launch, has urged Sebi to expedite the review process, hinting at an aggressive timeline for its market debut.
The upcoming IPO is expected to be a significant event in India's renewable energy sector, demonstrating the growing investor interest in sustainable energy solutions. NTPC Green Energy, as a leading player in this sector, aims to capitalize on this trend and leverage the public market access for its future expansion plans. The company's focus on renewable energy aligns with India's ambitious goal of achieving net-zero emissions by 2070, further solidifying its position as a key player in India's energy transition journey.
Source: NTPC Green Energy urges Sebi to expedite approval for Rs 10K crore IPO