NTPC Green Energy Limited (NGEL) has reported full compliance with its Initial Public Offering (IPO) fund utilization for the quarter ended June 30, 2025, according to the latest monitoring agency report prepared by CARE Ratings Limited.

IPO Details and Fund Allocation

The company raised Rs. 10,000 crore through its IPO conducted from November 19-22, 2024. The funds were allocated for three main purposes:

1. Investment in subsidiary NTPC Renewable Energy Limited (NREL) for debt repayment: Rs. 7,500 crore
2. General corporate purposes: Rs. 2,446.49 crore
3. Issue expenses: Rs. 53.51 crore

Fund Utilization Status

As of June 30, 2025, NGEL has utilized Rs. 6,650 crore of the total proceeds, with Rs. 3,350 crore remaining unutilized. The breakdown of utilization is as follows:

Detailed Utilization of Funds

Investment in NREL

Out of the allocated Rs. 7,500 crore for investment in NREL for debt repayment, Rs. 4,150 crore has been utilized, with Rs. 3,350 crore remaining unutilized.

General Corporate Purposes

The company has fully utilized and slightly exceeded the allocated amount for general corporate purposes:

• Rs. 102.47 crore for interest servicing
• Rs. 2,352.86 crore for funding growth opportunities, including a joint venture with ONGC for Ayana Power acquisition

Issue Expenses

Of the Rs. 53.51 crore allocated for issue expenses, Rs. 44.67 crore has been utilized. The remaining Rs. 8.84 crore has been adjusted under general corporate purposes.

Unutilized Funds

The unutilized funds of Rs. 3,350 crore are currently parked in fixed deposits:

• Rs. 2,010 crore with PNB Bank (6.60% return)
• Rs. 1,340 crore with Yes Bank (6.71% return)

Both fixed deposits are set to mature on December 5, 2025.

Compliance and Monitoring

CARE Ratings Limited, the appointed monitoring agency, has reported no deviations from the disclosed objects of the IPO. The company's Audit Committee has reviewed and approved the fund utilization report, confirming that all utilization is in line with the offer document.

NTPC Green Energy Limited has also submitted a 'Nil' statement of deviation or variation for the quarter ended June 30, 2025, in accordance with SEBI regulations, further affirming its compliance with the stated objectives of the IPO.

The monitoring agency report and the company's statements indicate that NTPC Green Energy Limited is progressing as planned with its fund utilization, demonstrating transparency and adherence to regulatory requirements in its post-IPO financial management.

NTPC Green Energy Limited (NGEL), a key player in India's renewable energy sector, has announced the successful completion of a 6 MW wind project at Dayapar, marking another milestone in its expansion of renewable energy infrastructure.

Project Details

The newly completed 6 MW wind project is part of the larger 150 MW Dayapar Wind Energy Project (Phase-I) located in Dayapar, Bhuj, Gujarat. This project falls under the umbrella of a more extensive 450 MW Hybrid Project being developed by NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Green Energy Limited.

Commercial Operation Timeline

According to the company's disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the 6 MW capacity has been declared for commercial operation effective from 00:00 Hrs of 31.07.2025. This latest addition complements the previously commissioned capacities of the same project:

Significance of the Project

The completion of this wind project underscores NTPC Green Energy's commitment to diversifying its renewable energy portfolio. By harnessing wind power, the company is contributing to India's clean energy goals and demonstrating its capability to execute projects across various renewable technologies.

Company Background

NTPC Green Energy Limited, with its registered office in New Delhi and corporate office in Greater Noida, is at the forefront of India's transition to green energy. The company continues to attract investor interest in the rapidly growing renewable energy sector.

This latest development reaffirms NTPC Green Energy's position as a significant contributor to India's renewable energy landscape, showcasing its ability to steadily expand its green power generation capacity.