NTPC Green Energy Ltd's stake sale has drawn major suitors such as ArcelorMittal, Brookfield and Canada Pension Plan Investment Board, PTI reported citing sources.
Green Energy Ltd (NGEL) is a wholly-owned subsidiary of NTPC.
The stake sale is part of NTPC's plan to raise Rs 10,000 crore -15,000 crore from asset monetisation over the next three years.
Over a dozen entities have so far shown interest in buying stake in the company.
"The NTPC has received 13 bids for divesting up to 5-10 per cent stake in the NGEL. The EoI for the stake was issued around June. The bidders include ArcelorMittal, Brookfield, and Canada Pension Plan Investment Board. The winners will be finalised by the end of the month (September)", PTI's report said.
NGEL had invited expression of interest (EoI) for 5-10 per cent stake sale in June 2022. The valuation of NGEL is expected to be around Rs 2,000 crore.
NGEL's IPO will come in FY24, PTI added quoting the same sources. The company can eventually go up to 26 per cent stake sale, they said.
The company currently has a renewable energy capacity of 2,500 MW, with another 4,000 MW set to be added.
Green Energy Ltd (NGEL) is a wholly-owned subsidiary of NTPC.
The stake sale is part of NTPC's plan to raise Rs 10,000 crore -15,000 crore from asset monetisation over the next three years.
Over a dozen entities have so far shown interest in buying stake in the company.
"The NTPC has received 13 bids for divesting up to 5-10 per cent stake in the NGEL. The EoI for the stake was issued around June. The bidders include ArcelorMittal, Brookfield, and Canada Pension Plan Investment Board. The winners will be finalised by the end of the month (September)", PTI's report said.
NGEL had invited expression of interest (EoI) for 5-10 per cent stake sale in June 2022. The valuation of NGEL is expected to be around Rs 2,000 crore.
NGEL's IPO will come in FY24, PTI added quoting the same sources. The company can eventually go up to 26 per cent stake sale, they said.
The company currently has a renewable energy capacity of 2,500 MW, with another 4,000 MW set to be added.
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