NTPC Green Energy, the renewable energy arm of the firm, filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through an Initial Public Offering (IPO).

The initial share sale will be an entirely fresh issue with no offer-for-sale (OFS) component. The company said it will use the IPO proceeds to repay debt and general corporate purposes.

NTPC Green Energy's IPO is expected to fund NTPC's renewable energy push, including investments in solar energy, green hydrogen, and green ammonia. The IPO could be India's largest in the year 2024.

NTPC Ltd.'s board of directors approved on Thursday a total investment of Rs 20,922 crore across two major power projects, according to exchange filings. The board accorded investment approval for stage II (1x800 MW) of the Darlipali Super Thermal Power Project in Odisha at an estimated cost of approximately Rs 11,131 crore.

NTPC Green Energy, the renewable energy subsidiary of NTPC, filed draft papers with the Securities and Exchange Board of India (SEBI) on Wednesday, seeking to raise ₹ 10,000 crore through an initial public offering (IPO).

NTPC Green Energy has filed for an initial public offering (IPO) with the SEBI to raise approximately $1.19bn.

NTPC shares soared to an all-time high of Rs 424 on BSE following NTPC Green Energy's filing for a Rs 10,000 crore IPO. The raised funds will be used to repay loans and support business purposes. The IPO includes only fresh equity shares without any Offer For Sale component.

The NTPC Green Energy IPO is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).

The company will only issue new shares and existing shareholders will not sell any stake, according to the draft papers.