India, 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 statu...