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Business
Haryana power firm HVPNL mulls stock market listing, sparking privatisation debate
✍️ The Times of India
🗓 16 Nov 2026, 12:16 AM
👁 29
Haryana Vidyut Prasaran Nigam Ltd is considering a public listing, prompting concerns about further privatisation of the state’s power sector.
The state-run power transmission company Haryana Vidyut Prasaran Nigam Ltd (HVPNL) has reportedly begun evaluating options to list its shares on a stock exchange. Sources close to the matter say the move is aimed at raising capital for infrastructure upgrades and expanding transmission capacity across Haryana.
Industry analysts note that a market listing could open the door to greater private sector participation in a sector traditionally managed by the government. While the Haryana government has not ruled out any specific privatisation roadmap, officials acknowledge that any listing would be subject to regulatory approvals and shareholder scrutiny.
Stakeholders, including consumer groups and some political leaders, have voiced apprehension that a public offering might lead to reduced state control and higher tariffs. The company, however, maintains that the listing is intended to improve financial health and service reliability, not to alter ownership structure.
The timeline for a potential listing remains unclear, with the board expected to deliberate further in the coming weeks. If approved, HVPNL could become one of the few Indian power transmission entities with publicly traded equity, setting a precedent for other state utilities.
Industry analysts note that a market listing could open the door to greater private sector participation in a sector traditionally managed by the government. While the Haryana government has not ruled out any specific privatisation roadmap, officials acknowledge that any listing would be subject to regulatory approvals and shareholder scrutiny.
Stakeholders, including consumer groups and some political leaders, have voiced apprehension that a public offering might lead to reduced state control and higher tariffs. The company, however, maintains that the listing is intended to improve financial health and service reliability, not to alter ownership structure.
The timeline for a potential listing remains unclear, with the board expected to deliberate further in the coming weeks. If approved, HVPNL could become one of the few Indian power transmission entities with publicly traded equity, setting a precedent for other state utilities.