India is preparing a fresh round of stake sales in government-owned companies, targeting about $19.7 billion in proceeds through initial public offerings by the end of the 2029/30 financial year.

According to a report released by NITI Aayog, the proposed IPO programme will cover strategic sectors including railways, power, petroleum and natural gas, aviation, and coal. The move is part of a wider effort by the federal government to unlock value from public assets and strengthen public finances.

The think tank said the IPO drive forms a key pillar of a broader asset monetisation plan, under which the government hopes to mobilise roughly $183.7 billion over the next four years. This strategy involves selling minority stakes in select state-run enterprises while retaining overall government control.

India has increasingly leaned on market-based funding options as it seeks to finance infrastructure development, reduce fiscal pressure, and improve the efficiency and transparency of public sector companies.