ArcelorMittal, Brookfield and Canada Pension Plan Investment Board are among over a dozen entities that have evinced interest in buying a stake in NTPC Green Energy, according to sources.

NTPC Green Energy Ltd (NGEL) is a wholly-owned subsidiary of state-owned power giant NTPC Ltd. The expression of interest (EoI) for stake sale of 5 to 10 per cent in NGEL was invited in June.

“The NTPC has received 13 bids for divesting up to 5-10 per cent stake in the NGEL. The bidders include ArcelorMittal, Brookfield, and Canada Pension Plan Investment Board. The winners will be finalised by the end of September.”

NTPC expects the valuation of the NGEL to be around Rs 2,000 crore.

The sources also informed that the initial public offer planned for NGEL will now come in FY2024 (next fiscal).

The company has not decided yet on the quantum of stake to be offloaded eventually and is looking initially at a 5 to 10 per cent stake sale.