The Finance Ministry has proposed to list Nuclear Power Corporation of India Ltd (NPCIL) on the stock exchanges by selling 10 per cent government stake.
According to sources, the Department of Disinvestment has sought comments on a draft note proposing listing of NPCIL through initial public offering (IPO) of 10 per cent paid-up equity capital of the company out of government’s 100 per cent shareholding.
NPCIL generates electricity through 19 nuclear power reactors located at six sites with an aggregate installed capacity of 4,680 MW.
Before the company is listed on the bourses, sources said, 4 independent directors will be appointed in the company’s 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.
The government is looking to mop up as much as `30,000 crore through disinvestment of public sector undertakings this fiscal.