Public sector lignite and power major NLC India on Wednesday approved a proposal to sell up to 10 crore shares in the listing process of its renewable energy arm NLC India Renewables Ltd (NIRL).
NLC’s board had approved the ₹4,000-crore IPO earlier this year and the listing is expected sometime in FY27.
NLC also approved a fundraise of ₹2,500 crore through issuance of bonds in the nature of debentures.
The company reported a net profit of ₹465 crore for the quarter ended September 2026, down nearly 2x when compared to ₹921 crore in the same quarter last year.
The profit was impacted by an increase in fuel prices as well as a ₹113 crore benefit in the year-ago quarter due to a change in inventories. Revenue from operations stood at ₹4,732 crore, up from ₹4,178 crore.
Meanwhile, NLC’s coal production stood at 78.55 lakh tonnes(lt) for the first half year of FY26, up from 74.87 lt in the same period last fiscal, registering a growth of 4.92 per cent.
Shares of the NLC India ended 8.97 per cent higher at ₹250.98 apiece on the NSE on Wednesday.
Published on November 4, 2026
