India aims to raise ₹1.79
trillion ($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 by 2024/25, below the government’s 6
trillion rupee target.
STAKE SALES IN STATE-RUN FIRMS
Under the plan, the government aims to divest stakes in
seven railway companies through IPOs that could potentially
fetch ₹837 billion by 2030, the report said. It targets
raising ₹170 billion of that through stock market listings
in the coming financial year starting April 1, 2026, the report
said, without naming the companies.
It also plans to list subsidiaries of state-run power firms
to raise ₹310 billion over the next four years, alongside
₹483 billion 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.
Published on February 24, 2026
