India targets $19.7 billion from state firm IPOs by 2030. The government plans to monetize assets across railway, power, petroleum, aviation and coal sectors through initial public offerings over the next four years. This ambitious divestment strategy is part of Prime Minister Modi's second asset monetisation plan, following the first phase which raised ₹5.3 trillion by 2024/25, though it fell short of the ₹6 trillion target. Seven railway company IPOs alone could generate ₹837 billion, with ₹170 billion expected in the upcoming financial year. Power firm subsidiaries, Coal India operations, and renewable energy assets from NLC India will also be listed. The Airports Authority of India will divest stakes in subsidiaries and joint venture airports. GAIL Gas is scheduled for listing in 2027/28 to raise ₹31 billion. The broader asset monetisation initiative aims to generate $183.
