The Bihar government has appointed Punjab National Bank's investment advisory arm to manage the initial public offering of Bihar State Power Transmission Co. Ltd. (BSPTCL).
The proposed share sale is valued at approximately ₹1,000 crore ($120 million), marking a significant step toward privatizing part of the state's power infrastructure.
This move positions BSPTCL to become the first state-owned power transmission utility to list on Indian stock exchanges.
The appointment of PNB's advisory unit signals the government's intent to streamline the listing process through a domestic public-sector bank with established capital markets expertise.
The development aligns with a broader trend of Indian state-owned enterprises seeking public listings to raise capital and improve governance.
Recent activity in the sector includes NLC India Renewables Ltd appointing four investment banks for its proposed IPO, while Laser Power & Infra Ltd recently debuted on exchanges following its own public offering.