NLC to sell 10 crore shares in renewable energy IPO
The company reported a net profit of ₹465 crore for the quarter ended September 2026
Public sector lignite and power giant NLC India has approved the sale of up to 10 crore shares in its renewable energy subsidiary NLC India Renewables Ltd (NIRL) as part of a proposed ₹4,000-crore initial public offering (IPO). The listing is expected to take place during the financial year 2027. Additionally, the company has raised funds by issuing ₹2,500 crore worth of bonds in the form of debentures.
NLC India reported a net profit of ₹465 crore for the quarter ending September 2026, which was significantly lower compared to ₹921 crore in the same quarter of the previous year. This decline was primarily due to an increase in fuel prices and a ₹113 crore gain from the previous year's quarter, attributed to a change in inventories.
The company's revenue from operations increased to ₹4,732 crore from ₹4,178 crore. NLC India's coal production for the first half of the fiscal year 2026 was 78.55 lakh tonnes, marking a 4.92% growth compared to 74.87 lakh tonnes in the same period of the previous year. The company's shares closed 8.97% higher at ₹250.98 each on the National Stock Exchange (NSE) on Wednesday.
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