The Union government is planning to list the subsidiaries of many central public sector enterprises (CPSEs) this financial year. These include NTPC Green Energy, SJVN Green Energy Ltd (SGEL), and NLC India Green Energy, according to a senior finance ministry official.
Confirming the proposed listing of at least three green subsidiaries of CPSEs, the official said the move would encourage companies to operate more professionally and achieve higher levels of efficiency. SBI Life, SBI Cards, and Mangalore Refinery and Petrochemicals are some of the listed subsidiaries of public-sector companies.
NTPC Green is planning to raise ₹10,000 crore through an initial public offering (IPO) by November. The IPO will involve a fresh issue of equity shares with no offer-for-sale (OFS) component.
The company intends to use ₹7,500 crore of the proceeds to repay or prepay loans, while the rest will be for general corporate purposes.
This story is from the October 28, 2024 edition of Business Standard.
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This story is from the October 28, 2024 edition of Business Standard.
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