The stock gained 2 per cent in trade on Tuesday.
The IPO could be in November itself as NGEL had filed its draft red herring prospectus (DRHP) in mid-September 2024.
NGEL's IPO will be for fresh issue of shares.
NTPC is targeting 60 GW of renewable energy (RE) capacity by FY32 through NGEL.
NGEL has an operational capacity of 3.2 GW, 12 GW of contracted under-construction RE projects and a development pipeline of 11 GW.
NGEL will commission 3 GW, 5 GW, and 8 GW capacities in FY25, FY26 and FY27, respectively.
NGEL is looking to set up utility-scale RE projects, and tie up with corporates for captive RE requirements.
The return ratios for captive projects may be higher than utility-scale projects.
ICICI Securities estimates revenue of ₹11,700 crore and operating profit of ₹9,500-10,000 crore for the RE portfolio.
In a sum-of-the-parts analysis, a brokerage assessed NGEL's valuation contribution at ₹91 per NTPC share.
The IPO should boost that.
Bu hikaye Business Standard dergisinin October 30, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin October 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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