(ET)
NTPC plans to raise ₹5,000 crore by selling a stake in a newly created green energy arm, according to people aware of the matter. The state-owned power generation giant has engaged SBI Capital Markets to advise on the sale process, which could be formally launched in October, these sources said. Feelers have been sent to Middle East-based sovereign wealth funds of Abu Dhabi and Kuwait, as well as pension funds of Canada. NTPC is keen to retain a majority stake in the arm after infusion of funds. The stake sale is expected to attract strong interest as the company has sovereign backing.
