NTPC Green Is Said to Eye $12 Billion Valuation in India Listing

NTPC Green Energy Ltd. is considering seeking a valuation of about $12 billion in what could be one of India’s biggest initial public offerings in the renewable energy industry, according to people familiar with the matter.

The clean energy subsidiary of state-backed NTPC Ltd. has held discussions with advisers about pricing its IPO at more than 100 rupees ($1.18) a share, the people said, asking not to be identified because the matter is private. NTPC Green Energy may raise up to 100 billion rupees in the share sale, the company has previously said.

Books are expected to open on ...