NLC India Plans Public Listing for Green Energy Subsidiary.

NLC India Ltd (formerly, Neyveli Lignite Corporation India Ltd) is reportedly planning to list its renewable energy subsidiary, NLC India Renewables Ltd (NIRL), through a ₹4,000 crore Initial Public Offering (IPO). The public offering is tentatively targeted for sometime in FY27, contingent on all preparatory steps aligning.

According to Prasanna Kumar Motupalli, CMD, NLCIL, the parent company intends to retain a majority stake in NIRL post-IPO. The primary objective of the IPO proceeds is to fuel NIRL's aggressive growth capital expenditure. The company aims for a substantial capacity ramp-up in the 10 GW range, a significant leap from its current 2 GW. These new investments will be exclusively directed towards wind and solar energy capacity additions.

NLCIL could file the necessary draft papers with the Securities and Exchange Board of India (SEBI) around March of next year, marking a crucial step towards the IPO. This move underscores NLC India's commitment to expanding its renewable energy footprint and contributing significantly to the nation's green energy goals.