NLC India Arm NIRL to Go Public in Q2 of FY27; to Raise Rs 4,000 Cr to Part Fund Expansion: CMD

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 Rs 4,000 crore to part fund its expansion plans, a top official of the company said.

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 Rs 4,000 crore through initial public offering (IPO) route.

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

"We are targeting Rs 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.

NLC India Ltd, which will invest Rs 50,000-Rs 60,000 crore to increase its renewable energy capacity by almost seven times, plans to do it through equity and debt.

"The equity portion is funded through internal resources," he said.

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 Rs 7,000 crore in NIRL.

The company will also be able to invest in various projects directly or through joint ventures, without seeking approvals, which are a must for all Navratna Central Public Sector Enterprises.

At present, NLCIL operates seven renewable energy assets with a total installed capacity of 2 GW, which are either operational or close to commercial operation.

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 renewable capacity -- has plans to scale up its green energy capacity to 32 GW by 2047.

NLC India, under the Ministry of Coal, is into businesses of mining and power generation.