India's $19.7 Billion State-Run IPO Plan

India announced a plan to raise 1.79 trillion rupees ($19.7 billion) by selling stakes in state-run firms through initial public offerings (IPOs) by the 2029/30 financial year. This initiative is part of a broader strategy to monetize state assets, aiming to raise $183.7 billion over the next four years, as detailed in a report by the government think tank India===NITI Aayog. The IPOs will target companies in the railway, power, petroleum and natural gas, aviation, and coal sectors. This is Prime Minister Narendra Modi's second four-year plan for asset monetization, following a previous plan that raised 5.3 trillion rupees. The government aims to divest stakes in seven railway companies, list subsidiaries of state-run power firms, and conduct IPOs for subsidiaries of Coal India and renewable energy assets of NLC India Limited. Additionally, the India===Airports Authority of India will sell stakes in a subsidiary and four airports, and GAIL (India)===GAIL Gas, a subsidiary of GAIL (India), is slated for listing in 2027/28.