NTPC gets 13 bids for minority stake sale in green unit

NTPC NSE 1.06 % has received 13 bids from investors such as the Canada Pension Plan Investment Board (CPPIB), ArcelorMittal, Malaysia’s Petronas, and Brookfield to pick a minority stake in its renewable arm NTPC Green Energy Ltd (NGEL).

NTPC proposes to raise Rs 2,000 crore equity through a private placement that would be followed by an initial public offering by the green energy arm.