NLC India Renewables Limited (NIRL), the renewable energy subsidiary of NLC India Limited, has appointed four Book Running Lead Managers (BRLMs) for its proposed Initial Public Offering (IPO). The IPO aims to strengthen NIRL’s capital base, support renewable energy expansion and facilitate its listing on Indian stock exchanges.
Key Highlights
- NLC India Renewables appoints four BRLMs for its proposed IPO.
- The IPO aims to strengthen the company’s capital base and support renewable energy growth.
- SBI Capital Markets, IIFL Capital, IDBI Capital and HDFC Bank appointed as BRLMs.
- NIRL currently manages a renewable energy portfolio of 1,785 MW across multiple technologies.
New Delhi, July 18: NLC India Renewables Limited (NIRL), the wholly owned subsidiary of NLC India Limited (NLCIL), has appointed four leading investment banking institutions as Book Running Lead Managers (BRLMs) for its proposed Initial Public Offering (IPO). The appointment marks a significant milestone in the company’s roadmap towards becoming a publicly listed renewable energy company.
The proposed IPO is expected to strengthen NIRL’s capital base, enabling the company to accelerate its long-term growth strategy in the renewable energy sector while 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 statutory and regulatory approvals, market conditions and other customary requirements.
Following a transparent and competitive selection process approved by the company’s Board, SBI Capital Markets Limited, IIFL Capital Services Limited, IDBI Capital Markets & Securities Limited and HDFC Bank Limited have been appointed as the Book Running Lead Managers. The selection was carried out using a structured evaluation framework to ensure the appointment of experienced merchant bankers.
As part of the IPO process, the BRLMs will advise and assist NIRL in due diligence, preparation of offer documents, regulatory coordination, issue marketing and overall management of the public offering, in accordance with applicable laws and regulations. Their appointment represents a key step towards advancing the company’s listing plans.
Established on 14 June 2023, NLC India Renewables Limited serves as the dedicated renewable energy arm of NLC India Limited. The company currently manages a renewable energy portfolio of 1,785 MW, spanning solar power, wind energy, Battery Energy Storage Systems (BESS) and rooftop solar projects, while spearheading the future renewable energy business of the NLCIL Group.
NIRL plays a strategic role in supporting India’s clean energy transition through the development, ownership and operation of renewable energy assets. The proposed IPO is expected to provide greater financial flexibility for expanding its renewable portfolio and supporting the country’s sustainable energy ambitions.
The appointment of four BRLMs marks a crucial step towards NIRL’s proposed IPO, strengthening its growth prospects and reinforcing NLC India’s commitment to expanding renewable energy capacity in line with India’s clean energy goals.
