NLC India arm NIRL to go public in Q2 of FY27

New Delhi: 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.

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.