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NEPC India
BSE: 500301|NSE: NEPCMICON|ISIN: INE588A01016|SECTOR: Engineering
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Company History - NEPC India
YEAR                      EVENTS
 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
        annum.
 
      - 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
        oversubscription.
 
 1992 - The Company proposed to enter into the fast growing air taxi
        business.
 
      - 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
        Pradesh.
 
 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
        farm.
 
      - 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
        allotted.
 
      - During November, the Company issued 150,00,000 GDRs at a price
 of
        US .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
        board.
    
 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
        Netherlands.
 
      - 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
        Jaisalmer.
 
      - 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.
 
 2003
 -NEPC India has bags an order for 75 Wind Electric Generators(WEG).
 
 2004
 
 -NEPC bags 70 Wind Turbine Generators (WTG) order from Vishal
 Exports.
 
 - NEPC unveils solar power equipment for households.
 
 2007
 
 -Company (NEPC Power House-Solar) has been launched successfully.
Source : Dion Global Solutions Limited
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