NEPC plans to raise $ 150 mln via GDR/FCCBs

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New Delhi, Nov 27 (UNI) NEPC India Ltd, a public ltd company promoted by the Chennai-based Khemka Group, today said it plans to raise 150 million dollars through GDR/FCCB issue to fund its future growth plans.

The board, which met today, has resolved to call an Extra Ordinary General Meeting of its members on December 24 regarding the proposed GDR/FCCB issue and to obtain approval of the members for the proposed increase in the authorised share capital of the company from the existing Rs 150 crore.

The NEPC Solar Power System has received very favourable market acceptance and has been able to consolidate and garner a 30 per cent market share in Northern India, said a statement.

NEPC has also developed a wider range of models with higher capacities using revolutionary technologies. The product range has tremendous market potential to cater to high capacity requirements of 'Solar Dual Power System' with a market potential to achieve 40-50 per cent market share by mid 2008.

The company's plans and foray into Solar Photo Voltaic Modules and Power plant is proceeding on the right track and fast mode, a statement said.

It has proposed to establish a-state-of-the-art production facility to manufacture Thin Film Solar Photo Voltaic Modules which is considered to be an advanced technology to generate cost effective power, and cater to the high demand for Solar PV modules all over the world.

The firm, involved in promoting wind energy, also has plans and proposals to foray into Southern Region. Strategic marketing arrangements are being organised to reach/access customers in the Southern Region.

The company, set up in 1989, manufactures and installs wind turbine generators and wind driven pumps on a turnkey basis and also operates a domestic airline on the Chennai and Ahmedabad feeder routes.

UNI

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