India aims to raise 1.79 trillion rupees ($19.7 billion) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, it said on Monday.
The IPOs will be part of a broader push to raise $183.7 billion by monetising state assets over the next four years, the government think tank NITI Aayog said in a report released late on Monday.
The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said. They are part of Prime Minister Narendra Modi’s second four-year plan for asset monetisation, after the first raised 5.3 trillion rupees by 2024/25, below the government’s 6 trillion rupee target.
It also plans to list subsidiaries of state-run power firms to raise 310 billion rupees over the next four years, alongside 483 billion rupees from initial public offerings of subsidiaries of Coal India and the renewable energy assets of NLC India Limited.
The Airports Authority of India will sell its stake in one subsidiary, and four airports that it owns through joint ventures with private partners.
In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India) to potentially raise 31 billion rupees, NITI Aayog said.