NTPC's green energy subsidiary, NTPC Green Energy, has submitted draft papers for a $1.2 billion IPO to facilitate the raising of funds for renewable energy projects. Established in 2021, the arm focuses on creating green energy capacity for NTPC, targeting 60 GW of renewable energy by 2032. Despite initial attempts to secure a strategic investor, the company ultimately chose the IPO route, with a portion of the issue reserved for existing shareholders to boost the parent firm's stock price pre-listing. The IPO's timing is strategic, leveraging the current market boom and favorable conditions for green energy enterprises. State-backed entities in the power sector, including NTPC, are witnessing historically high valuations, emphasizing the appeal of green investments. NTPC Green Energy's foray into the stock market promises enhanced valuations and potential future fundraising opportunities as the stock price stabilizes. Investing in solar and wind projects, NTPC Green Energy plans to expand into storage initiatives, green hydrogen, and green methanol, aligning with India's clean energy objectives. The IPO proceeds will support existing and upcoming green projects, including hydrogen and methanol ventures vital for India's energy transition. Additionally, the funds will aid in retiring debt incurred for prior green initiatives, reinforcing the company's commitment to sustainable energy production and environmental responsibility.