Suspense Crime Sach Ka Dam
NTPC Green‘s IPO is still underway and the company has signed a major deal. The company has signed a joint venture with the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP). This joint venture will be formed to invest Rs 1.87 lakh crore to set up renewable energy projects in Andhra Pradesh. The agreement, signed in the presence of Chief Minister N Chandrababu Naidu, Energy Minister Gottipati Ravi Kumar, and others at the Secretariat, will generate employment for 1.06 lakh people and the state will get a financial benefit of Rs 20,620 crore in 25 years.
The first phase will be completed by May 2027
Naidu said in an official statement, “This joint venture will be a big step towards making Andhra Pradesh number one in the field of energy (renewables). The state government will always be at the forefront in encouraging solar, wind, pump storage, green hydrogen, and green ammonia energy projects.” Under the joint venture, 25 GW of solar, wind, and hybrid energy projects will be set up in the state. In addition, pumped hydropower projects of 10 GW capacity will be developed at suitable locations in the state. Naidu proposed to complete the first phase of this joint venture by May 2027. Energy Minister Gottipati Ravi Kumar said that this joint venture is an important step to secure the energy future of Andhra Pradesh, which will also contribute to the national renewable energy goals.
IPO subscribed 93% on the second day
The IPO of NTPC’s renewable energy unit NTPC Green Energy Limited received a 93 percent subscription on the second day of bidding on Thursday. According to NSE data, bids were received for 54,96,35,370 shares against the offer of 59,31,67,575 shares in the share sale. The category of retail individual investors (RIIs) received a subscription of 2.38 times. While the portion of qualified institutional buyers (QIBs) received a subscription of 75 percent. The portion of non-institutional investors received a subscription of 34 percent. NTPC Green Energy has raised Rs 3,960 crore from anchor investors. The initial share sale of Rs 10,000 crore is an issue of entirely new shares.
