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Govt proposes to list Nuclear Power Corporation on bourses

Govt proposes to list Nuclear Power Corporation on bourses

The finance ministry has proposed to list Nuclear Power Corporation of India Ltd (NPCIL) on the stock exchanges by selling 10 per cent of the government's stake in the company.

The finance ministry has proposed to list Nuclear Power Corporation of India Ltd (NPCIL) on the stock exchanges by selling 10 per cent of the government's stake in the company.

NPCIL reported a net profit of Rs 1,906 crore on a turnover of Rs 7,914 core in 2011-12. It has a net worth Rs 25,428 crore.

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

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

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

In addition, the company also generates 10 MW electricity from wind mills at Kudankulam in south India. It is constructing 6 nuclear power reactors with an aggregate capacity of 4,800 MW.

Sources said NPCIL has an authorised capacity of Rs 15,000 crore, of which Rs 10,174.33 crore is paid up capital.

Sources said prior to listing, 4 independent directors will be appointed in the company board to comply with the Securities and Exchange Board of India's listing norm of having equal number of executive and non-executive directors.

NPCIL board currently consists of 5 functional directors, including the chairman and managing director, and two government nominee directors. It has 3 independent directors.

With inputs from PTI