NLC Subsidiary, NIRL to Launch IPO in Q2 of Next Fiscal to Raise ₹4,000 Crore

NIRL, the renewable energy arm of state-owned NLC India, is expected to go public in the second quarter of the next financial year to raise around ₹4,000 crore to part-fund its expansion plans, a top official of the company said.

NLCIL Targets 10 GW Renewable Capacity by 2030

In an interview to PTI, Chairman and Managing Director (CMD) of NLC India Ltd (NLCIL), Prasanna Kumar Motupalli, said that the public sector enterprise is targeting to ramp up its renewable energy capacity from the current 1.4 GW to 10 GW by 2030 and the company plans to raise ₹4,000 crore through initial public offering (IPO) route.

IPO Timeline and Execution Strategy

The company plans to file draft papers with the markets regulator SEBI in the first quarter of 2026–27.

"We are targeting ₹4,000 crore through IPO route…So by September we will be in a position to ramp up our renewable assets through NIRL, and by March 2026 we will be able to complete the legal and the financial due diligence, and in the first quarter of 2026–27 we will be going for DRHP through the SEBI,” the CMD explained.

The company plans to invest ₹60,000 crore to increase its renewable energy capacity by almost seven times and aims to do so through a combination of equity and debt. "The equity portion is funded through internal resources," he said.

Government Exemption Enables ₹7,000 Crore Investment

The Cabinet Committee on Economic Affairs (CCEA) on July 16 gave a special exemption to NLC India Ltd from investment guidelines that govern government-owned firms, which will enable NLCIL to invest ₹7,000 crore in NIRL.

NLC India, under the Ministry of Coal, is into the businesses of mining and power generation. The company invest in various projects directly or through joint ventures, without seeking approvals, which are a must for all Navratna Central Public Sector Enterprises.

Also Read: Upcoming IPO: Oswal Energies Files DRHP with SEBI to Raise Funds via IPO

At present, NLCIL operates seven renewable energy assets. NLC India is a 6 GW company which includes 4.6 GW thermal capacity. NLC India, the first company in the country to add 1 GW of renewable capacity, has plans to scale up its green energy capacity to 32 GW by 2047.

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