Upcoming IPO List: Acme Solar And NTPC Green Energy To Raise Rs 13,000 Cr

Acme Solar Holdings and NTPC Green Energy are preparing to go public with the goal of raising a total of Rs 13,000 crore. The Securities and Exchange Board of India (SEBI) has received the draft red herring prospectus (DRHP) from NTPC Green Energy Limited, a wholly owned subsidiary of NTPC Ltd. Through its IPO, the company aims to raise Rs 10,000 crore. A part of the offering, which has a face value of Rs 10 per share, is set aside for eligible employees, who will also be entitled to a discount on the employee reservation. The offering is made up solely of fresh equity shares.

According to a CRISIL report mentioned in the DRHP, NTPC Green Energy, which is promoted by NTPC Ltd., is the largest public sector renewable energy company in terms of operating capacity and power output for FY24. Under the Ministry of Power, NTPC Ltd. is the largest power producer in India. As of March 2024, it has the highest installed capacity and power-generating statistics. The total amount of projects in NTPC Green Energy's portfolio as of June 30, 2024, was 14,696 MW, of which 2,925 MW were operating projects and 11,771 MW were contracted or awarded. Its overall capacity now stands at 25,671 MW, with 10,975 MW of projects in the works.

Acme Solar Holdings Limited, a Gurugram-based company, is also getting ready to go public with the goal of raising Rs 3,000 crore. Acme Solar has submitted its DRHP to SEBI for an offering that includes an offer for sale (OFS) of Rs 1,000 crore by ACME Cleantech Solutions Private Limited and Rs 2,000 crore in the fresh equity segment. Acme will provide a reservation with a discount for eligible employees in the employee reservation section, similar to NTPC Green. According to the CRISIL research, as of March 2024, Acme Solar, one of the largest independent power producers (IPPs) in the renewable energy industry in India, is ranked among the top 10 renewable energy businesses by operating capacity.

18 of Acme's 28 operating projects, or more than 85% of its total operational capacity, are centred on Andhra Pradesh, Rajasthan, and Telangana as of March 31, 2024. Acme is now a participant in integrated renewable energy after diversifying from solar to wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects throughout the years. Large-scale renewable energy project development, construction, ownership, and operation are the key focuses of Acme's business strategy, which makes use of both its operations and maintenance (O&M) division and its internal engineering, procurement, and construction (EPC) expertise.