NTPC Green Energy, a subsidiary of NTPC Ltd focusing on renewable energy, has filed a draft red herring prospectus for a Rs 10,000-crore initial public offering (IPO) in India. This IPO, expected to be the largest in 2024, aims to fund NTPC's renewable energy push, including investments in solar energy, green hydrogen, and green ammonia. The offering will include a quota for existing NTPC shareholders, providing them with the opportunity to participate. Financial analysts see strong growth potential in NTPC's renewable energy business, with bids for renewable projects in India increasing significantly. NTPC is on track to meet its ambitious 60 GW renewable energy target by 2032. The IPO proceeds will be utilized to support ongoing and future projects, further expanding NTPC Green Energy's renewable capacity. The company's management envisions substantial value unlocking through this IPO, positioning NTPC Green Energy as a major player in India's renewable energy sector. Overall, the IPO signals a positive step towards India's renewable ambitions and energy transition goals.