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Power Ministry Plans 4 IPOs, 2 FPOs Under Five-Year Monetisation Pipeline

The Union Ministry of Power has outlined an ambitious monetisation plan for its public sector enterprises (PSEs) to raise funds through initial public offerings (IPOs), follow-on public offerings (FPOs), and refinancing measures. The plan is projected to generate approximately Rs80,000 crore from the financial year 2025-26 (FY26) to 2029-30 (FY30) under the National Monetisation Plan (NMP) 2.0.

Monetisation Targets and Key Tasks

• PGCIL aims to raise Rs33,500 crore by monetising additional assets through its infrastructure investment trust (PGInvIT).
• NTPC is expected to generate Rs27,000 crore, with plans to conduct FPOs for its subsidiary NGEL.
• NHPC is set to raise Rs10,000 crore through the securitisation of its commissioned projects.
• SJVN has a target of Rs7,500 crore through the IPO of its subsidiary SGEL.
• THDC and NEEPCO each plan to raise Rs1,000 crore through IPOs.
• HRUL is looking to generate ?3,000 crore via an IPO.

Public Listing Plans

The ministry's proposal includes listing three PSEs: hydropower companies THDC and NEEPCO, along with the green energy subsidiary SGEL of SJVN. The estimated offering for each of THDC and NEEPCO is around Rs1,000 crore, while SGEL’s IPO is projected at Rs2,000 crore.

NTPC will retain its controlling stake in THDC and NEEPCO. The initiative is expected to boost liquidity, enhance transparency, and support capital expansion in the energy sector.

While the Ministry of Power has not issued any official statements on the matter, industry experts view the move as a significant step towards unlocking capital for clean energy projects and infrastructure development. As the monetisation plan progresses, stakeholders will closely monitor its impact on the power sector’s financial health and its contribution to India’s clean energy goals.