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NEPC India Ltd. Company History and Annual Growth Details

1989 - The Company was originally incorporated as Natural Energy
Processing Company Pvt. Ltd. on 22nd March. It was promoted by
Ravi Prakash, Madhusudhan Khemka & Rajkumar Khemka. The company
manufacture Wind Turbine Generators and wind driven pumps.

- The Company undertook to set up a plant on a piece of land
admeasuring 1.71 acres at 20, (MP) Industrial Estate, Ambattur
Chennai, for manufacture of wind turbine generator (WTG) and wind
turbine pumps (WTP) and 500 Nos. of gear box type wind mill per

- Gujarat Wind Farms Ltd. and Combined Travels Ltd. are
subsidiaries of the company.

1991 - The name of the company was changed as NEPC-Micon Private Limited
on 12th February & later on converted as Public Ltd. Company & a
fresh certificate of incorporation was obtained from the
Registrar of companies, Tamil Nadu on 15th March.

- The Company entered into an agreement with Micon A/s. Denmark for
production of WTG in a phased manner.

- 360 No. of equity shares of Rs 10 each subscribed for by
signatories to the Memorandum of Association. 49,99,640 No. of
equity shares of Rs 10 each were then issued at par of which
21,99,640 shares and 3,00,000 shares reserved for allotment on a
firm basis to promoters, Indian resident directors, etc., and to
Morup Manufacturing Company Micon A/s. Denmark respectively. Of
the balance 2,50,000 shares reserved for allotment on a
preferential basis (1,43,600 shares taken up) 22,50,000 shares
along with 1,06,400 shares not taken up by employees' issued to
public. Additional 3,75,000 shares were allotted to retain

1992 - The Company proposed to enter into the fast growing air taxi

- 107,50,000 Rights equity shares of Rs 10 each issued (prem. Rs 30
per share; prop. 2:1) All were taken up. Another 5,37,500 shares
offered at a premium of Rs 30 per share to employees' on an
equitable basis. (only 68,700 shares taken up). Unsubscribed
portion allowed to lapse.

- The Company has proposed to establish a 20 MW Wind Farm Project
in the States of Tamilnadu, Gujarat, Karnataka and Andhra

1994 - The Company set up an airlines division and was able to achieve
high levels of load factor due to feeder route operation. Also,
charter services was introduced.

- During the year, the company proposed to set up a 200 MW wind
power project at a total cost of US $ 250 million.

- Land admeasuring 3500 acres was acquired for setting up the wind

- During April, the company issued 18,80,080 zero interest fully
convertible bonds of Rs 300 each of which 16,19,920 debentures
were issued to the shareholders on Rights basis in prop. 10 bonds
for every 100 equity shares held. (Of these 17,858 debts. kept
in abeyance for dispute court cases; 485 debts. kept in abeyance
for fractional entitlement).

- Simultaneously another 18,80,080 bonds were issued through a
prospectus of which 4,70,000 bonds were reserved for allotment on
a firm basis to promoter, directors their friends etc.

- Of the remaining the following were reserved for allotment on a
preferential basis: (i) 19,560 bonds to employees/workers of the
company (only 19,310 bonds taken up). (ii) 1,80,000 bonds to the
shareholders of NEPC Agro Foods Ltd., NEPC Tea Garden Ltd. (all
were taken up).

- Balance 12,10,520 bonds along with 250 bonds not taken up by
employees issued to the public (all were taken up).

- Each bond was to be converted into 10 equity shares of Rs 10 each
at a premium of Rs 20 per share on the 180th day from the date of
allotment. Till 31st March, 1995, 34,851,050 shares were

- During November, the Company issued 150,00,000 GDRs at a price of
US $3.18 per GDR. These GDRs are underlined by 150,00,000 No.
of equity shares.

- The Company has entered into a MOU with the Tamilnadu Electricity

1995 - The Company set up Airlines division to cater to the needs of
customers in the feeder routes.

- The Company has also introduced charter service and populairised
the concept of charter service in India.

1996 - The Company has set its goals to introduce grid connected Solar
Power for the first time in the country. The Company has tied-up
with Omenian Power Corporation of USA for the technology.

- The Company received ISO 9002 issued by Det Norske Veritas of

- 59,00,000 redeemable pref. shares issued.

1997 - The Company commissioned its first 100 MW grid connected solar
power plant in Tamil Nadu.

- The company has signed a MoU with the Rajasthan State
Electricity board for putting up an 50 mw wind farm near

- The NEPC has entered into a memorandum of understanding with
Omnion Power Corporation Ltd, USA, for sourcing technology for
solar power.

- NEPC India has been awarded the Indian Renewable Energy
Development Agency (Ireda) award for its contribution to
develop the solar photovoltic (SPV) market in India.

1998 - Wind Mill manufacturing major, NEPC India Ltd, in an
attempt to take on its erstwhile technical collaborator NEG
Micon of Denmark, has floated a new venture - NEPC
Infrastructure Ltd (NIL).

2000 - The Company to issue equity shares of preferential allotment upto
an amount of Rs. 25 crores, to persons(s), bodies
corporat/FIs/FIIs/NRIs/OCBs etc.


-NEPC bags 70 Wind Turbine Generators (WTG) order from Vishal Exports.

- NEPC unveils solar power equipment for households.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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