NLC India’s Green Energy Subsidiary to Go Public with Rs. 4,000 Cr. IPO
NLC India Renewables Ltd. (NIRL), a subsidiary of Neyveli Lignite Corporation India Limited (NLC India), is set to go public with a Rs. 4,000 crore Initial Public Offering (IPO).
IPO to be Launched by Q2 FY27, Draft Filing Expected in Q1 FY27
NLC India Renewables’ IPO is expected to be launched in the second quarter of FY27, with the company planning to file the Draft Red Herring Prospectus (DRHP) with SEBI in the first quarter of 2026-27.
Speaking to PTI, NLC India’s Chairman and Managing Director, Mr. Prasanna Kumar Motupalli said, “…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 proceeds from the offering will primarily be utilized to partly fund capital expenditure for NLC India’s Renewable Energy (RE) endeavours.
NLC India to Expand its RE Portfolio to 10 GW by 2030
NLC India targets to increase its total RE power generation capacity to 10 GW by 2030 from the current 1.4 GW. At present, NLC India Limited operates seven Renewable Energy assets. The company will therefore be increasing its RE portfolio to over 7x its current size. This expansion will entail a total investment of around Rs. 60,000 crore, which will be raised through a combination of equity and debt.
Of the total planned capital expenditure for its RE portfolio, NIRL will utilise Rs. 15,000 crore specifically in the area of Battery Energy Storage Systems (BESS).
NLC to Invest a Total of Rs. 1.25 Lakh Cr. by 2030 for 20 GW Consolidated Portfolio
Aforementioned investment target for the company’s RE portfolio is a part of NLC India’s larger target to invest Rs. 1.25 lakh crore by 2030. Through this total investment, NLC India plans to have a consolidated power generation portfolio (RE and thermal) of 20 GW. Thus, the company will expand its thermal power generation capacity to 10 GW by 2030 from the current 4.6 GW.
In addition to aforementioned investment in RE projects, the company has earmarked Rs. 45,000 crore for the development of new thermal power projects, while Rs. 15,000 crore will be allocated for the expansion of its mining operations. This capital expenditure will be financed through a mix of internal accruals, domestic loans, and External Commercial Borrowings (ECBs).
About NLC India: NLC India, founded in 1956, is headquartered in Neyveli, Tamil Nadu. The company is involved in mining lignite and coal, and in power generation using both thermal and renewable energy sources.
About NLC India Renewables: NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of NLC India Limited, was incorporated on 14th June 2023. The company focuses on development of Renewable Energy (RE) projects.
