The subscription for the initial public offering (IPO) of NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited, will begin next week.

As part of its renewable energy push, NGEL is developing a green hydrogen hub at Pudimadaka in Andhra Pradesh and intends to commission grid-scale battery storage for round-the-clock power

The company is offering fresh equities to the public worth Rs 10,000 crore totalling approximately 92.59 crore shares.

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.

Before the NTPC Green Energy IPO opens for public subscription, here are the key insights from the company's Red Herring Prospectus (RHP) filed with the Securities and Exchange Board of India (Sebi)

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

About Rs 10,000 crore will come from the IPO, he said, adding that Rs 7,500 crore of the proceeds will go towards repayment of debt.

NGEL is an umbrella company for NTPCs green business initiatives. It undertakes projects through organic and inorganic routes and aims to be the flag-bearer of NTPCs green energy journey to achieve the ambitious target of 60 GW by FY 32.

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 set a price band on Wednesday for its initial public offering (IPO), targeting a valuation of as much as $10.8 billion in what is set to be India's third-largest IPO this year, though analysts raised concerns on the "aggressive" pricing.