PTI reported that the Finance Ministry has proposed to list Nuclear Power Corporation of India Ltd on the stock exchanges by selling 10% government stake.

The Department of Disinvestment in the Ministry of Finance this week sought comments on a draft note proposing listing of NPCIL through an initial public offering of 10% paid up equity capital of the company out of government's 100% shareholding.

Sources privy to the development said that the Cabinet Committee on Economic Affairs have been sought by December 10th.

NPCIL generates electricity using nuclear energy through 19 nuclear power reactors located at 6 sites with an aggregate installed capacity of 4,680 MW.

In addition, the company also generates 10 MW electricity from wind mills at Kudankulam. It is constructing 6 nuclear power reactors with an aggregate capacity of 4,800 MW.

Sources said that NPCIL has an authorized capacity of INR 15,000 crore of which INR 10,174.33 crore is paid up capital. It reported a net profit of INR 1,906 crore on a turnover of INR 7,914 core in 2011-12.

Sources added that prior to listing, four independent directors will be appointed in the company board to comply with the SEBI's listing norm of having equal number of executive and non executive directors.

Currently, NPCIL board consists of 5 functional directors including the chairman and managing director and 2 government nominee directors. It has 3 independent directors.