Ahead Of NTPC Green Energy IPO, NTPC Announces JV With This Company - Details

Ahead of NTPC Green Energy IPO , the National Thermal Power Corporation (NTPC) Green Energy has formed a joint venture with Oil and Natural Gas Corporation (ONGC). In an exchange filing, NTPC said that the JV is a ‘50:50 joint venture of NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited and ONGC Green Limited (OGL), a wholly-owned subsidiary of Oil and Natural Gas Corporation Limited’. 

NTPC-ONGC Joint Venture: What we know so far

The joint venture, named ONGC NTPC Green Private Limited (ONGPL) will be engaged in the business of exploring and setting up Renewable Energy (RE) projects and assets both through Greenfield development and acquisitions. ONGPL will also assess the feasibility and establishment of offshore wind projects, among other related activities - NTPC further said in the statement. 

According to the exchange filing, the agenda of the joint venture company of NTPC and ONGC would be - Exploring and setting up Renewable Energy (RE) Projects/ Assets in India and
overseas through Greenfield development and acquisitions after firming up the sale of power from various opportunities, exploring the feasibility and setting up of offshore wind projects in India, exploring the opportunities to utilize the renewable energy and setting up RE Projects/Assets for OGL & NGEL and its affiliate.

NTPC Green Energy IPO - Details

Interestingly, the development comes just a day before NTPC Green Energy IPO is slated to open for subscription. The Rs10,000 crore IPO has a fresh issue of over 92 crore shares. The price band for the NTPC Green Energy IPO is Rs 102 -108, with a lot size of 138 shares for retail investors, who will have to bid a minimum of Rs 14,904. The subscription window will open on November 19 and close on November 22, 2024. The basis of allotment will be finalised on Monday, November 25, 2024, and shares will be credited to demat accounts on November 26, 2024.