Indian Petrochemicals Corporation Limited
Encyclopedia
Indian Petrochemicals Corporation Limited (IPCL) is a petrochemicals company in India
. It was established on March 22, 1969, with a view to promote and encourage the use of plastics in India
. Its business consists of polymers, synthetic fibre, fibre intermediaries, solvents, surfactants, industrial chemicals, catalysts, adsorbents, and polyesters. The Company operates three petrochemical complexes, a naphtha based complex at Vadodara
and gas based complex each at Nagothane near Mumbai
and at Dahej on Narmada
estuary in bay of Khambhat
. The Company also operates a catalyst manufacturing facility at Vadodara
. Its turnover for the financial year 2005-06 has crossed the US $ 2 billion mark.
In June 2002, the Government of India
as a part of its disinvestment
programme divested 26% of its equity shares in favour of Reliance Petroinvestments Limited
(RPIL), a Reliance Group Company
. RPIL acquired an additional 20% equity shares through a cash offer in terms of SEBI (Takeover Regulations) and currently holds 46% of Company's equity shares.
The Board of IPCL consists of ten directors led by Shri Mukesh Ambani
as Chairman, five independent and five non-independent directors.
Effective April 1, 2005, the six polyester companies namely Appollo Fibres Limited (AFL), Central India Polyesters Limited (CIPL), India Polyfibres Limited (IPL), Orissa Polyfibres Limited (OPL), Recron Synthetics Limited (RSL) and Silvassa Industries Private Limited (SIPL) have been amalgamated with IPCL. This marks the entry of the Company in the polyester sector. The polyester units are based in Hoshiarpur
(Punjab
), Nagpur
(Maharashtra
), Barabanki (Uttar Pradesh
), Baulpur (Orissa
), Allahabad
(Uttar Pradesh
) and Silvassa
(Gujarat).
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. It was established on March 22, 1969, with a view to promote and encourage the use of plastics in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. Its business consists of polymers, synthetic fibre, fibre intermediaries, solvents, surfactants, industrial chemicals, catalysts, adsorbents, and polyesters. The Company operates three petrochemical complexes, a naphtha based complex at Vadodara
Vadodara
Vadodara formerly known as Baroda is the third most populated city in the Indian State of Gujarat . It is one of the four cities with the population of over 1 million...
and gas based complex each at Nagothane near Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
and at Dahej on Narmada
Narmada River
The Narmada , also called Rewa is a river in central India and the fifth largest river in the Indian subcontinent. It is the third largest river that completely flows within India after Ganges and Godavari...
estuary in bay of Khambhat
Khambhat
Khambhat , formerly known as Cambay, is a city and a municipality in Anand district in the Indian state of Gujarat. It was formerly an important trading center, although its harbour has gradually silted up, and the maritime trade has moved elsewhere...
. The Company also operates a catalyst manufacturing facility at Vadodara
Vadodara
Vadodara formerly known as Baroda is the third most populated city in the Indian State of Gujarat . It is one of the four cities with the population of over 1 million...
. Its turnover for the financial year 2005-06 has crossed the US $ 2 billion mark.
In June 2002, the Government of India
Government of India
The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...
as a part of its disinvestment
Disinvestment
Disinvestment, sometimes referred to as divestment, refers to the use of a concerted economic boycott, with specific emphasis on liquidating stock, to pressure a government, industry, or company towards a change in policy, or in the case of governments, even regime change...
programme divested 26% of its equity shares in favour of Reliance Petroinvestments Limited
Reliance Industries
Reliance Industries Limited is an Indian conglomerate company headquartered at Mumbai, India. The company operates through three business segments: petrochemicals, refining, and oil and gas, other segment of the company includes textile, retail business, special economic zone development and...
(RPIL), a Reliance Group Company
Reliance Industries
Reliance Industries Limited is an Indian conglomerate company headquartered at Mumbai, India. The company operates through three business segments: petrochemicals, refining, and oil and gas, other segment of the company includes textile, retail business, special economic zone development and...
. RPIL acquired an additional 20% equity shares through a cash offer in terms of SEBI (Takeover Regulations) and currently holds 46% of Company's equity shares.
The Board of IPCL consists of ten directors led by Shri Mukesh Ambani
Mukesh Ambani
Mukesh Dhirubhai Ambani is an Indian business magnate. He is the chairman and managing director of Indian conglomerate Reliance Industries, the largest private sector enterprise in India listed in Fortune 500 magazine. His personal stake in Reliance Industries is 48%...
as Chairman, five independent and five non-independent directors.
Effective April 1, 2005, the six polyester companies namely Appollo Fibres Limited (AFL), Central India Polyesters Limited (CIPL), India Polyfibres Limited (IPL), Orissa Polyfibres Limited (OPL), Recron Synthetics Limited (RSL) and Silvassa Industries Private Limited (SIPL) have been amalgamated with IPCL. This marks the entry of the Company in the polyester sector. The polyester units are based in Hoshiarpur
Hoshiarpur
Hoshiarpur is a city and a municipal council in Hoshiarpur district in the Indian state of Punjab. It was founded, according to tradition, during the early part of the fourth century. In 1809 it was occupied by the forces of Maharaja Karanvir Singh and was united into the greater state of Punjab....
(Punjab
Punjab (India)
Punjab ) is a state in the northwest of the Republic of India, forming part of the larger Punjab region. The state is bordered by the Indian states of Himachal Pradesh to the east, Haryana to the south and southeast and Rajasthan to the southwest as well as the Pakistani province of Punjab to the...
), Nagpur
Nagpur
Nāgpur is a city and winter capital of the state of Maharashtra, the largest city in central India and third largest city in Maharashtra after Mumbai and Pune...
(Maharashtra
Maharashtra
Maharashtra is a state located in India. It is the second most populous after Uttar Pradesh and third largest state by area in India...
), Barabanki (Uttar Pradesh
Uttar Pradesh
Uttar Pradesh abbreviation U.P. , is a state located in the northern part of India. With a population of over 200 million people, it is India's most populous state, as well as the world's most populous sub-national entity...
), Baulpur (Orissa
Orissa
Orissa , officially Odisha since Nov 2011, is a state of India, located on the east coast of India, by the Bay of Bengal. It is the modern name of the ancient nation of Kalinga, which was invaded by the Maurya Emperor Ashoka in 261 BC. The modern state of Orissa was established on 1 April...
), Allahabad
Allahabad
Allahabad , or Settled by God in Persian, is a major city of India and is one of the main holy cities of Hinduism. It was renamed by the Mughals from the ancient name of Prayaga , and is by some accounts the second-oldest city in India. It is located in the north Indian state of Uttar Pradesh,...
(Uttar Pradesh
Uttar Pradesh
Uttar Pradesh abbreviation U.P. , is a state located in the northern part of India. With a population of over 200 million people, it is India's most populous state, as well as the world's most populous sub-national entity...
) and Silvassa
Silvassa
Silvassa is the capital of the Indian Union Territory of Dadra and Nagar Haveli.The city has a large number of factories and industries providing significant government revenue, which allows the city to maintain a low level of taxation.-Geography:Silvassa is located at...
(Gujarat).