NLC India Renewable Energy IPO: Parent To Sell Up To 10 Crore Shares Through Its Proposed Public Issue

NLC India will sell up to 10 crore equity shares in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), through an offer for sale (OFS) as part of the proposed initial public offering (IPO). Each share has a face value of ₹10. The proposed sale will require regulatory and statutory clearances before it can move ahead.

The listing proposal had already received the board’s approval in January 2026. Under the plan, NLC India can dilute up to 25% of its holding in NIRL, either in a single tranche or across multiple phases.

Even before that, in July 2025, the company had indicated that NIRL was aiming for a stock market debut in the second quarter of FY27. The proposed fundraise stood at around ₹4,000 crore.

NLC India had also planned to file NIRL’s draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). That step was to follow the completion of legal and financial due diligence.

NLC India Q2 FY27 Results

Profit attributable to owners of the company.

NLC India share price rose nearly 8% on Wednesday, 4 November, following the company's quarterly earnings announcement.

Renewable Energy Expansion Plans

NLC India is looking to increase its renewable energy capacity beyond its earlier 2030 target. More than 8 GW of projects are already in the pipeline, while around 600 MW of fresh capacity is expected to be added during 2026.

The company had previously set a target of increasing renewable energy capacity from 1.4 GW to 10 GW by 2030.

Tax Adjustments Lift Reported Earnings

The increase in net profit came despite weaker operating performance. A significant deferred tax credit contributed to the reported earnings.

NLC India disclosed that it had remeasured its deferred tax assets and liabilities following the adoption of the new tax regime. The change had an estimated impact of ₹714.17 crore during the half-year period.

The gap between profit growth and operating performance remains a key feature of the September-quarter results.

Source

NSE

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