NIRL Selects Top Investment Banks for Public Listing
NLC India Renewables Limited (NIRL), a subsidiary of state-owned NLC India Limited, has appointed four leading investment banks as Book Running Lead Managers (BRLMs) for its proposed Initial Public Offering (IPO). The selected institutions are SBI Capital Markets, HDFC Bank, IIFL Capital Services and IDBI Capital Markets & Securities.
According to the company, the appointments were made through a structured and competitive selection process approved by the board. The proposed IPO is aimed at strengthening NIRL's capital base, supporting its long-term growth strategy and accelerating investments in renewable energy projects.
The company said the public offering will also facilitate the listing of its equity shares on recognised stock exchanges in India, subject to regulatory appr...