<p>India's largest power producer NTPC Ltd is likely to divest 25 per cent of its green energy arm through a public offering this year after shelving a plan to sell the stake to Malaysia's Petronas, a person familiar with the matter said on Thursday.</p>.<p>Petronas had offered $460 million for a 20 per cent stake in NTPC Green Energy, outbidding local Indian firms with an offer of 27.52 rupees ($0.3362) per share, <em>Reuters</em> reported last month.</p>.<p>The source, who declined to be named as they were not authorised to speak to the media, said NTPC had been seeking an even higher valuation, but Petronas declined.</p>.<p>NTPC and Petronas did not immediately respond to requests for comment.</p>.<p>India's renewables sector is attracting increasing foreign investment and was among the country's top five industries for overseas funds last fiscal year, taking a 5% share of all inflows from April to September 2022, against 3.3 per cent in the same period a year earlier. Bloomberg News reported earlier on Thursday that Petronas withdrew its earlier offer saying a 20% stake was too small and would not give it a seat on the unit's board. </p>
<p>India's largest power producer NTPC Ltd is likely to divest 25 per cent of its green energy arm through a public offering this year after shelving a plan to sell the stake to Malaysia's Petronas, a person familiar with the matter said on Thursday.</p>.<p>Petronas had offered $460 million for a 20 per cent stake in NTPC Green Energy, outbidding local Indian firms with an offer of 27.52 rupees ($0.3362) per share, <em>Reuters</em> reported last month.</p>.<p>The source, who declined to be named as they were not authorised to speak to the media, said NTPC had been seeking an even higher valuation, but Petronas declined.</p>.<p>NTPC and Petronas did not immediately respond to requests for comment.</p>.<p>India's renewables sector is attracting increasing foreign investment and was among the country's top five industries for overseas funds last fiscal year, taking a 5% share of all inflows from April to September 2022, against 3.3 per cent in the same period a year earlier. Bloomberg News reported earlier on Thursday that Petronas withdrew its earlier offer saying a 20% stake was too small and would not give it a seat on the unit's board. </p>