NTPC gets bids from 13 players for stake sale in green energy armNTPC - 285 Change: 1.25 (0.44 %)
News: NTPC has received interest from 13 players for stake sale in its green energy arm. The players include a Canadian pension fund l, Arcelor Mittal, Petronas, Brookefield. The subsidiary proposes to raise Rs 2000 crore through a private placement, which will be followed by an IPO.
View: In line with the company’s vision to reach 60 GW of renewable capacity by 2032, the capital raise will help the company to get growth capital and pursue its capacity expansion plans. The company currently has 2500 MW of operational RE assets with 4500 MW under construction. On the whole, diversifying into green energy value chain and monetising the same via stake sale to strategic investors will also help in the ESG matrix, which eventually can rerate the stock in the medium term.