Chennai: NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited (NLCIL), has appointed four leading financial institutions as Book Running Lead Managers (BRLMs) for its proposed Initial Public Offering (IPO).
The proposed IPO is aimed at strengthening NIRL’s capital base, supporting its long-term growth plans in the renewable energy sector, and contributing to India’s target of achieving 500 GW of non-fossil fuel-based energy capacity by 2030.
The listing of NIRL’s equity shares on recognised stock exchanges will be subject to necessary statutory and regulatory approvals, market conditions, and other applicable requirements.
Four Merchant Bankers Appointed as IPO Lead Managers
NIRL has selected four reputed financial institutions to manage and advise the proposed IPO process.
The appointed Book Running Lead Managers (BRLMs) are:
- SBI Capital Markets Limited
- IIFL Capital Services Limited
- IDBI Capital Markets & Securities Limited
- HDFC Bank Limited
The selection process was conducted through a structured, transparent, and competitive evaluation process based on the framework approved by the company’s Board of Directors.
BRLMs to Manage IPO Preparation and Execution
The appointed merchant bankers will support NIRL throughout the IPO process and assist the company in various key activities.
Their responsibilities will include:
- Conducting due diligence for the IPO process
- Preparing offer documents
- Coordinating with regulatory authorities and market intermediaries
- Managing investor communication and marketing activities
- Providing advisory support in compliance with applicable laws and regulations
The appointment of BRLMs marks an important milestone in NIRL’s proposed listing journey.
NIRL IPO Aims to Support Renewable Energy Expansion
The proposed public offering is expected to provide NIRL with additional financial strength to expand its renewable energy operations.
The IPO proceeds will support the company’s long-term growth strategy as it continues to develop renewable energy projects and contribute towards India’s clean energy transition.
NIRL’s Renewable Energy Portfolio and Expansion Plans
NLC India Renewables Limited was incorporated on June 14, 2023, as the dedicated renewable energy arm of NLC India Limited.
The company was established to manage and expand NLCIL Group’s renewable energy business, including:
- Solar power projects
- Wind energy projects
- Battery Energy Storage Systems (BESS)
- Rooftop solar projects
NIRL currently has an installed renewable energy portfolio of 1,785 MW across different segments.
The company has operational renewable energy assets in:
- Tamil Nadu
- Rajasthan
- Andaman
NIRL is also expanding its renewable energy footprint across several states, including:
- Gujarat
- Assam
- Maharashtra
- Odisha
- Uttar Pradesh
- Punjab
IPO Move Strengthens NIRL’s Role in India’s Clean Energy Mission
The proposed IPO is expected to enhance NIRL’s visibility in the renewable energy sector and provide greater opportunities for future expansion.
As India continues to increase its focus on clean energy capacity, NIRL’s planned listing could play an important role in supporting renewable infrastructure development and attracting investment into the sector.
About NLC India Limited (NLCIL)
NLC India Limited (NLCIL) is a Navratna, Schedule ‘A’ Central Public Sector Enterprise under the Government of India. The company is primarily engaged in mining, thermal power generation, and renewable energy development. Through its subsidiaries, NLCIL is expanding its presence in clean energy and supporting India’s transition towards sustainable power generation.
Read also: NLC India and NALCO Sign JV Agreement for 1,080 MW Captive Thermal Power Plant in Odisha’s Angul
