Government proposes to list Nuclear Power Corp on bourses
MDT/PTI 30 November 2012

NPCIL generates electricity using nuclear energy through 19 nuclear power reactors located at six sites, with an aggregate installed capacity of 4,680MW

New Delhi: The Finance Ministry has proposed to list Nuclear Power Corporation of India Ltd (NPCIL) on the stock exchanges by selling 10% government stake, reports PTI.

 

The Department of Disinvestment in the Ministry of Finance this week sought comments on a draft note proposing listing of NPCIL through a initial public offering (IPO) of 10% paid up equity capital of the company out of government's 100% shareholding.

 

Sources privy to the development said comments on the draft note to the Cabinet Committee on Economic Affairs (CCEA) have been sought by 10th December.

 

NPCIL generates electricity using nuclear energy through 19 nuclear power reactors located at six sites, with an aggregate installed capacity of 4,680MW.

 

In addition, the company also generates 10 MW electricity from wind mills at Kudankulam.

 

It is constructing 6 nuclear power reactors with an aggregate capacity of 4,800 MW.

 

Sources said NPCIL has an authorised capacity of Rs15,000 crore, of which Rs10,174.33 crore is paid up capital.

 

It reported a net profit of Rs1,906 crore on a turnover of Rs7,914 core in 2011-12.

 

The net worth of the company is Rs25,428 crore.

 

Sources said prior to listing, four independent directors will be appointed in the company board to comply with the SEBI's listing norm of having equal number of executive and non-executive directors.

 

NPCIL board currently consists of five functional directors, including the chairman and managing director, and two government nominee directors. It has three independent directors.

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