NTPC looks to list arms NEEPCO, THDC by FY27

State-owned power company NTPC is looking to list its arms THDC and NEEPCO on the stock exchanges by the end of the current financial year, a source said on Friday. It is now looking to public issue of THDC and NEEPCO, which will help the company to raise funds, the source said, explaining the rationale.

State-owned power company NTPC is looking to list its arms THDC and NEEPCO on the stock exchanges by the end of the current financial year, a source said on Friday. The company has also agreed to the stock market debut of Hindustan Urvarak & Rasayan Limited (HURL), in which the power giant holds around 30 per cent stake, the source in the know of the development said. ''NTPC is in expansion mode. It listed NGEL and is using the proceeds to set up clean energy projects. It is now looking to public issue of THDC and NEEPCO, which will help the company to raise funds,'' the source said, explaining the rationale. NTPC Green Energy Ltd (NGEL) was listed in November 2024. Through HURL's share sale, NTPC and its joint venture partners Coal India Limited (CIL) and Indian Oil Corporation Limited (IOCL) are looking to raise around Rs 5,000 crore to Rs 6,000 crore, the source said. According to the HURL website, NTPC, CIL and IOCL jointly hold a total of 89 per cent equity share in HURL. The source did not provide any estimates for THDC and NEEPCO. The listing of all three entities is expected to be completed by the end of this fiscal year, the source said. The process to engage with merchant bankers is also expected to start soon. NGEL is an umbrella company for the green business initiatives of NTPC and undertakes clean energy projects. It had raised Rs 10,000 crore from the initial public offering (IPO) in 2024. Based in Rishikesh, Uttarakhand, THDC India is a 75:25 per cent entity of the NTPC and government of Uttar Pradesh. It is into the generation of power through solar, hydro, thermal and pumped storage. North Eastern Electric Power Corporation Ltd (NEEPCO) is a wholly-owned subsidiary of NTPC, operating in the hydro, thermal and solar power segments.