History of NEPC India Ltd.

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

- The Comp. undertook to set up a plant on a piece of land admeasuring 1.71 acres at 20, [MPs] Industrial Estate, Ambattur Chennai, for manufacture of wind turbine generator [WTGs] & wind turbine pumps [WTPs] & 500 Nos. of gear box type wind mill per annum.

- Gujarat Wind Farms limited & Combined Travels limited are subsidiaries of company.

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

- The Comp. 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 & 3,00,000 shares reserved for allotment on a firm basis to promoters, Indian resident directors, etc., & to Morup Manufacturing Comp. Micon A/s. Denmark respectively. Of the balance 2,50,000 shares reserved for allotment on a preferential basis [1,43,600 shares taken ups] 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 Comp. 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. 2:1s] 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 ups]. Unsubscribed portion allowed to lapse.

- The Comp. has proposed to establish a 20 MW Wind Farm Project in the States of Tamilnadu, Gujarat, Karnataka & Andhra Pradesh.

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

- During the year, the Comp. 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 Comp. 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 entitlements].

- 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: [is] 19,560 bonds to employees/workers of the Comp. [only 19,310 bonds taken ups]. [iis] 1,80,000 bonds to the shareholders of NEPC Agro Foods Ltd., NEPC Tea Garden limited [all were taken ups].

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

- 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 Comp. 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 Comp. has entered into a MOU with the Tamilnadu Electricity board. 1995 - The Comp. set up Airlines division to cater to the needs of customers in the feeder routes.

- The Comp. has also introduced charter service & populairised the concept of charter service in India.

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

- The Comp. received ISO 9002 issued by Det Norske Veritas of Netherlands.

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

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

- The Comp. 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 [Iredas] award for its contribution to develop the solar photovoltic [SPVs] 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 [NILs].

2000 - The Comp. to issue equity shares of preferential allotment upto an amount of Rs. 25 crores, to persons[ss], bodies corporat/FIs/FIIs/NRIs/OCBs etc.

2004

-NEPC bags 70 Wind Turbine Generators [WTGs] order from Vishal Exports.

- NEPC unveils solar power equipment for households.