Coal giant NTPC said to plan IPOs of three units, could raise $2 billion

The company is also looking to sell its stake in NTPC-SAIL Power Co, a joint venture with Steel Authority of India Ltd. for supplying electricity to the steelmaker's mills and townships

India’s coal power giant NTPC Ltd. expects to raise 150 billion rupees ($2 billion) through initial public offerings in three units including its renewables business, and the paring of a joint venture stake, according to a company official familiar with the plans.
 

The state-run generator plans to sell shares in NTPC Renewable Energy Ltd. within a year, the official said, asking not to be named as the plans are still not public. A listing of hydropower unit North Eastern Electric Power Corp., which it bought last year, and power trading arm, NTPC Vidyut Vyapar Nigam Ltd., are planned for early