New Delhi (Economy India ): State-run miner and energy producer NLC India Ltd. is planning to launch an initial public offering (IPO) for its renewable energy arm, NLC India Renewables Ltd (NIRL), in the second quarter of fiscal year 2026-27. The proposed IPO is expected to raise about Rs4,000 crore, which will be used to partially finance the company’s ambitious expansion projects in the clean energy sector.
A senior official from the company confirmed the timeline and purpose of the fundraising, highlighting NIRL’s critical role in NLC’s diversification strategy from coal-based operations to green energy production.

NIRL is being positioned as a leading renewable energy platform, with the parent company aiming to scale its renewable energy capacity substantially in the coming years. The IPO proceeds will be directed towards capital expenditure for solar and wind power projects, and grid-scale battery storage initiatives.
This listing aligns with the Indian government’s broader push toward energy transition and carbon neutrality, and is part of NLC India’s strategy to contribute to India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030.
As of now, NIRL has commissioned renewable energy capacity of over 1.4 GW, and is developing an additional 4 GW of projects, including solar parks in Rajasthan, Gujarat, and Tamil Nadu.
NLC India, a Navratna PSU under the Ministry of Coal, has been actively expanding its green portfolio, and the upcoming IPO is expected to unlock value, increase transparency, and attract institutional investors into India’s clean energy transformation.
According to analysts, the move will help NLC reduce its dependency on budgetary support and enhance operational autonomy of its renewable vertical.
NIRL’s IPO will also give retail and institutional investors a direct opportunity to invest in India’s renewable energy growth story, which has seen significant momentum with both domestic and global interest.
Final details on valuation, stake dilution, and merchant bankers will be announced closer to the IPO launch. Market experts expect strong interest due to India’s evolving ESG investing landscape and the public sector’s growing role in green infrastructure.
With this IPO, NLC India joins the ranks of other PSUs like IREDA and NTPC Green Energy in tapping capital markets to fund their low-carbon energy ambitions.
(Economy)