NTPC Green Energy, a subsidiary of India's state-run NTPC Ltd., has filed for a ₹10,000 crore ($1.2 billion) initial public offering (IPO) aimed at supporting the country's renewable energy expansion and repay existing loans. The IPO, which will consist solely of new shares, is set against the backdrop of India's goal to achieve 500 GW of renewable energy by 2030. Following the announcement, NTPC shares rose by approximately 4%, reflecting investor optimism towards the booming IPO market, which has seen 235 companies raise over $8.6 billion this year alone. Proceeds from the IPO will primarily be allocated to paying off ₹7,500 crore in debt for NTPC Renewable Energy. Major financial institutions including HDFC Bank and IDBI Capital Markets are backing the offering, which will be listed on both the BSE and NSE. The move is part of a broader strategy by NTPC to diversify into renewable energy amid increasing demand for clean energy solutions.