India's NTPC Green Energy has set a price band of 102 rupees to 108 rupees per share for its 100 billion rupees ($1.19 billion) IPO, which is set to be the country's third-largest this year, a newspaper advertisement showed on Wednesday.

The business intends to repay debt by investing in its subsidiary, NTPC Renewable Energy, with the money raised from the IPO.

Mumbai: NTPC Green Energy Ltd., a subsidiary of state-run NTPC Ltd., is reportedly aiming for a valuation of around $12 billion in what could be one of India’s largest IPOs in the renewable energy sector,

Investors making bids for the NTPC Green Energy IPO can do so for one lot of 138 shares and in multiples of that thereafter.

NTPC Green Energy has announced to launch its initial public offering (IPO) on Tuesday, November 19 and the bidding for the issue shall conclude on Friday, November 22.

NTPC Green Energy will be the biggest IPO by a PSU since Life Insurance Corporation's ₹21,000-crore share sale in May 2022.

India's NTPC Green Energy has set a price band of 102 rupees to 108 rupees per share for its 100 billion rupees ($1.19 billion) initial public offering (IPO), a newspaper advertisement showed on Wednesday.

NTPC Green Energy IPO is a key step in NTPC’s goal to achieve 60 gigawatts (GW) of renewable energy capacity by FY32.

This is as per a report by Bloomberg citing people familiar with the development. If successful, this IPO could become one of the largest in the renewable energy industry.

The grey market premium (GMP) of NTPC Green Energy, the renewable energy arm of state-owned NTPC, has plunged sharply in recent days ahead of the opening of the initial public offering (IPO) early next week.

NTPC Green Energy Limited, a subsidiary of state-owned NTPC Limited, is planning to launch an initial public offering (IPO) and aims for a valuation of around $12 billion, according to a report by Bloomberg on November 12.