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Bihar Power Utility Set for India's First State IPO
27 Jul
Summary
- Punjab National Bank's advisory arm appointed to manage IPO process.
- Bihar State Power Transmission Co. aims to raise ₹1,000 crore.
- This IPO marks India's first public listing of a state-owned power utility.
Bihar State Power Transmission Co. Ltd (BSPTCL) is preparing for a significant milestone as Punjab National Bank's investment advisory arm has been appointed to manage its pre-initial public offering process. This strategic move aims to facilitate a share sale expected to raise at least ₹1,000 crore, valuing the utility at over ₹10,000 crore.
The company's expansion plan, valued at ₹16,194 crore, focuses on bolstering transmission infrastructure and accommodating increasing electricity demand. As of March 31, 2025, BSPTCL reported assets of ₹21,112 crore and liabilities of ₹6,471 crore, with Bihar State Power (Holding) Co. owning 100% of the utility.
This planned public offering, comprising both a fresh issue of shares and an offer for sale by the Bihar government, is anticipated to be India's first of its kind for a state-owned power transmission entity. The net profit of BSPTCL saw a substantial increase, rising nearly sixfold to ₹286 crore in FY25 from ₹49.5 crore the previous year, with revenue growing by 47% to ₹1,785 crore.
