Uttar Pradesh Pasudhan Udyog Nigam, Ltd.,
Directorate of Animal Husbandry,
Gokaran Nath Road, Badshah Bagh,
Lucknow-226001
Phone No. : 0522-2740010
Ltter No. 175 /UPPUNL/Camp/Lucknow
Dated : 19-11-2010
INVITATION OF PROPOSALS FOR SALE OF EQUITY SHARES
Uttar Pradesh Pasudhan Udyog Nigam Lt. (UPPUNL), a Govt. of U.P.
undertaking having its registered office at Gokaran Nath Road,
Badshah Bagh, Lucknow, intends to invite sealed Bids for sale of its
equity share stake in M/s Hind Agro Industries Ltd. (HAIL) (an
unlisted company). The details of HAIL company are as under :1. Name of the Company -
M/s Hind Agro Industries Ltd. (HAIL)
CDF Complex, Anup Shahr Road,
Aligarh, U.P.
2. No of Equity Shares 20 lakhs shares of face value Rs. 10
each fully paid up.
3. UPPUNL's(%) share - 6.03% of the total paid up equity share
holding
equity share capital of HAIL
4. Product
- Frozen meat
Terms & Condition of the Bid A. The bids in sealed cover super scribing on the envelop "Proposal
for purchase of equity shares of Hind Agro Industries Ltd." along with
the details of the offered to be submitted in the office of Managing
Director of M/s UPPUNL by 1300 hours (IST) on 30th Nov. 2010
B. Bids shall be accepted for the entire lot of 20 lakh shares and not
for any part thereof.
C. All Bids shall required to be accompanied with earnest money of
Rs. 20 lakhs only by way of demand draft issued by a scheduled Bank
payable in favour of Uttar Pradesh Pasudhan Udyog Nigam Ltd.,
payable at Lucknow.
D. The Financial Bid (to be submitted in a sealed envelope
alongwith Bid Document mentioned at 'C' above) shall be accompanied
by a Demand Draft issued by a scheduled Bank payable in favour of
Uttar Pradesh Pasudhan Udyog Nigam Ltd., payable at Lucknow,
for an amount equal to 50% of the Financial Bid, less the earnest
money amount of Rs. 20 lakhs.
E. UPPUNL shall make an offer of the highest bid received and
accepted, first to M/s Hind Industries Ltd. (HIL), its co-promoters in
HAIL, who shall have the right of first refusal, and upon such right
having been exercised by HIL, the bid may be finalized in favour of the
successful bidder.
F.
The successful bidder shall be required to deposit the balance
50% of the bid by demand draft within 15 days of acceptance and
confirmation of the bid by UPPUNL.
G. UPPUNL reserves the right to accept/reject any or all proposals
without assigning any reason therefore.
H. The Production facilities of HAIL would be available for visit by
prospective bidders on 25th, 26th and 27th November, 2010 between
0800 HRS and 1600 HRS.
I.
The bid documents may be downloaded from the website of
UPPUNL http://animalhusb.up.nic.in
Managing Director,
Uttar Pradesh Pasudhan Udyog Nigam, Ltd.,
Lucknow
INVITATION
TO BID FOR PURCHASE OF 6.03% STAKE
AMOUNTING TO 20,00,000 EQUITY SHARES HELD BY UTTAR
PRADESH PASUDHAN UDYOG NIGAM LTD. (UPPUNL) IN M/S
HIND AGRO INDUSTRIES LIMITED, CDF COMPLEX,
ANUPSHAHR ROAD, ALIGARH-202122
1. PURPOSE.
Uttar Pradesh Pasudhan Udyog Nigam Ltd. (UPPUNL), a
Government of Uttar Pradesh undertaking, intends to dispose of by way of a
one-time, lump-sum, sale of its equity shareholding consisting of 20 lakh
numbers equity shares, fully paid up, of face value Rs. 10 each, aggregating
to total value of Rs.2,00,00,000/- (Rupees Two crores), in M/s Hind Agro
Industries Ltd. (hereafter called HAIL), a company registered under the
Companies Act, 1956, and having its registered office and production
facilities at Central Dairy Farms (CDF) Complex, Anupshahr Road, Aligarh
-202122. HAIL’s shares are not listed on any stock exchange.
2. BACKGROUND.
HAIL is a closely held public limited company. It was incorporated on 315-1994 and is a joint venture (JV) promoted by UPPUNL, the Pradeshiya
Industrial & Investment Corporation of U.P. Limited (PICUP), and M/s
Hind Industries Ltd., a listed public limited company, and promoter group
consisting of Shri Sirajuddin Qureshi, Shri Samar Qureshi, Dr. Mohd. Abdul
Haleem, etc.
UPPUNL was formed as a fully-owned U.P. Government undertaking on
14-5-1975 with the objective of Meat and Dairy development. In pursuance
of a Joint Venture Agreement dated 22-11-1993 executed between UPPUNL
and Hind Industries Ltd., HAIL was allotted land admeasuring 50 acres at
Central Dairy Farms (CDF) Complex, Anupshahr Road, Aligarh - 202122
by UPPUNL on 26-9-1996, for the specific purpose of setting up of
Integrated Abattoir-cum-Meat processing unit, in consideration of which,
UPPUNL was allotted 20,00,000 shares (Twenty lakh shares) of HAIL of
face value Rs.10 each in the year 1996-97.
PICUP is a wholly owned Government of Uttar Pradesh undertaking,
engaged in providing financial services to industry in the state of Uttar
Pradesh. PICUP has subscribed in the equity share capital of HAIL pursuant
to Joint Sector Co-promoters agreement dated 25-3-1995 to the extent of
Rs. 4.20 crores, out of which Rs. 2.10 crores has been subscribed in the form
of promoters’ equity on its own behalf, and another Rs. 2.10 crores has been
subscribed on behalf of the Ministry of Food Processing Industries,
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Government of India, to be held by PICUP as Nodal Agency of the said
Ministry pursuant to drawal of a loan of the said amount under Agreement
for Loan for Investment in the Joint Sector project between the Ministry and
PICUP dated 25-9-1995.
HAIL is the second largest exporter of buffalo meat and meat products from
India. The company has set up a 100% Export Oriented Unit (EOU) having
modern integrated Abattoir-cum-Meat processing plant for Buffalo and
Sheep meat with a capacity of 1,20,000 MTPA at the above location in
District Aligarh, U.P. HAIL’s state-of-the-art plant has been set up as per
the standards of Department of Primary Industries & Energy (DPIE) –
Australia, conforming to US FDA and EEC specifications. The plant has
been established on turnkey basis with the world renowned companies of
New Zealand and Australia as technical collaborators. Major countries to
which the products of the company are being exported include the UAE,
Egypt, Lebanon, Malaysia, Jordan, Hong Kong, the Phillipines, Saudi
Arabia, Singapore, Vietnam, etc. HAIL is a Government recognized trading
house and has bagged many prestigious awards from APEDA and National
Productivity Awards for export excellence in meat industry from Ministry of
Commerce, Government of India.
2.1
Shareholding Pattern of HAIL as on date
Folio
No.
Name of Shareholder
1.
2
3
4
5
6
8
Shri Sirajuddin Qureshi
Smt. Kiran Qureshi
Ms. Shehla Qureshi
Shri Samar Qureshi
Dr. Mohd. Abdul Haleem
Dr. Mohd. Naseem Qureshi
U.P.Pasudhan Udyog
Nigam Ltd. (UPPUNL)
Hind Industries Ltd.
The Pradeshiya Industrial
& Investment Corporation
of U.P.Ltd.(PICUP)
IFCI Ltd.
Total
9
10
11
No. of Equity Amount (Rs.)
Shares (Face
Value - Rs.
10/-)
Percentage
Shareholding
20
10
10
10
10
10
20,00,000
200
100
100
100
100
100
2,00,00,000
0.00
0.00
0.00
0.00
0.00
0.00
6.03
2,42,50,000
42,00,000
24,25,00,000
4,20,00,000
73.15
12.67
27,00,000
3,31,50,070
2,70,00,000
33,15,00,700
8.15
100.00
M/s Hind Industries Ltd., the major shareholder in HAIL, is a listed public
limited company, having its registered office at A-1, Phase-I, Okhla
Industrial Area, New Delhi-110020 and production facilities for Fresh and
Frozen Meat at B-42, Site-IV, Industrial Area Sahibabad, Ghaziabad.
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The company had turnover of Rs.122.45 crores in the year ending March,
2010 and had reported net profit of Rs. 2.48 crores. The closing share price
of HIL on Bombay Stock Exchange was Rs. 85.55 on
November
18, 2010. Details regarding M/s Hind Industries Ltd. are available on its
website www.hindindustries.net.
2.2
Management
HAIL is a Board managed company with the following directors:
S/Shri
1.
Dr. Harsharan Das, IAS, Secy. to Government of
U.P.(GoUP) - Nominee – UPPUNL
R.K. Goyal, Spl. Secy. to GoUP; Nominee UPPUNL
B. Banerjee, Nominee IFCI
Rakesh Gupta, Nominee PICUP
K.D.Sharma, Nominee PICUP
Sirajuddin Qureshi, Managing Director
B.B.Huria
Samar Qureshi
Ishtiaque Abidi
Dr. S.K.Ranjhan
Smt. Kiran Qureshi
2.
2.3
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Product and Installed Capacity of HAIL
3.
Boneless Veal (Buffalo) - Frozen
: 9000 MTPA
Boneless Buffalo – Frozen
: 102000 MTPA
Sheep – Fresh
: 9000 MTPA
Physical Performance Of HAIL in last 5 Years
Year
2005-06
2006-07
2007-08
2008-09
2009-10
Capacity
Utilization
(%)
45.35
50.16
34.30
40.44
45.78
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4.
Financial Performance of HAIL and Key Ratios
All figures, Rs., crores
2009-10 2008-09 2007-08 2006-07 2005-06
Share Capital
Reserves & Surplus
Net Worth
Total Assets
Gross Fixed Assets
Secured Loans
Turnover
Net Profit
Return on Net Worth
Return on Equity
Net Profit Margin (Net
Profit/Turnover)
Asset Turnover (times)
Turnover/ Total Assets
Dividend Per Share
Earnings Per Share
Book Value
33.15
55.25
88.40
299.10
148.76
143.41
691.85
5.20
5.88%
15.69%
0.75%
33.15
50.05
83.20
304.10
144.70
143.18
638.38
15.17
18.23%
45.76%
2.38%
33.15
34.88
68.03
247.85
141.07
143.77
363.12
2.29
3.37%
6.91%
0.63%
33.15
32.60
65.75
228.66
139.15
127.94
480.41
10.76
16.37%
32.46%
2.24%
33.15
21.83
54.98
205.14
140.93
121.72
392.35
7.80
14.19%
23.53%
1.99%
2.31
2.10
1.47
2.10
1.91
1.57
26.67
4.58
25.10
0.69
20.52
3.25
19.83
2.35
16.59
HAIL has entered into One Time Settlement agreement with IFCI and IDBI.
5.
Future Expansion Plans and Growth Prospects of HAIL
The company is continuously making efforts for tapping new
international markets. It is also making efforts to upgrade the quality,
reduce costs and add value to its products, which is beneficial for the longrun growth. It has decided that keeping its expertise in establishment of
modern slaughter houses in mind, it would be applying for awards of
contracts in this sector through various agencies such as Corporations/ Nagar
Nigams via PPP route.
6.
Instructions to Bidders
i.
The bidder may be an individual, or a firm (sole proprietorship/
partnership), a body corporate, company, trust or society, provided
that in the case of an individual, he shall be an Indian citizen, and if a
concern as above, be registered under an Indian law in force.
ii.
The prospective bidders may obtain copies of the audited balance
sheets and profit and loss accounts of HAIL from the office of
UPPUNL, or scrutinize the same on any working day from 1000
hours to 1800 hours (Monday to Saturday) by contacting Dr. M. G.
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iii.
Tariq, General Manager, UPPUNL / Chief Veterinary Officer,
Aligarh – Address: Vikas Bhawan, Aligarh. Contact Telephone No.09927801944; Office Phone : 0571-2742041.
The production facilities of HAIL would be available for visit by
prospective bidders on 25th, 26th and 27th November, 2010 between
0800 HRS and 1600 HRS. HAIL’s contact person for this purpose is
: Shri R.K.Goyal, Chief Financial Officer. Contact Telephone Nos.
09891971111.
iv.
The bids are to be submitted in the office of Managing Director of
M/s UPPUNL by 1300 hours on 30th Nov., 2010 at Directorate of
Animal Husbandry, Gokaran Nath Road, Badshah Bagh, Lucknow226001.
v.
Bids shall be accepted for the entire lot of 20 lakh shares and not for
any part thereof.
vi.
The Bids will be furnished in sealed cover superscribed “PROPOSAL
FOR PURCHASE OF EQUITY SHARES OF HIND AGRO
INDUSTRIES LIMITED” (the Proposal). The letter in Format ‘A’
annexed hereto shall be placed in the above sealed cover enclosing
earnest money of Rs. 20 lakhs only by way of demand draft issued
by a scheduled
Bank drawn in favour of Uttar Pradesh
Pasudhan Udyog Nigam Ltd., payable at Lucknow.
vii.
The Financial Bid, in Format ‘B’ annexed hereto, shall also be in a
sealed cover superscribed “FINANCIAL BID” and shall be placed
with the Proposal as per sub-clause (vii) above.
viii. Proposals found wanting or deficient in requisite earnest money shall
be summarily disqualified and the “FINANCIAL BID” accompanying
therewith will not be opened.
ix.
x.
All Financial Bids shall be accompanied by a Demand Draft issued by
a scheduled Bank drawn in favour of Uttar Pradesh Pasudhan
Udyog Nigam Ltd., payable at Lucknow, for an amount equal to
50% of the Financial Bid, less the earnest money amount of Rs. 20
lakhs.
UPPUNL shall make an offer of the highest bid received and
accepted, to M/s Hind Industries Ltd.(HIL), its co-promoters in HAIL,
who shall have the right of first refusal, and upon such right having
been exercised by HIL, the bid may be finalized in favour of the
successful bidder.
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xi.
The successful bidder shall be required to deposit the balance 50% of
the bid by demand draft within 15 days of acceptance and
confirmation of the bid by UPPUNL.
xii.
In the event the successful bidder fails to deposit the balance 50% of
the bid by Demand Draft within 15 days of acceptance of the bid by
UPPUNL, the 50% upfront amount inclusive of the earnest money
deposit of Rs.20 lakhs shall be forfeited to UPPUNL.
xiii. UPPUNL reserves the right to accept/reject any or all proposals
without assigning any reason therefor.
xiv.
All disputes shall be subject to jurisdiction of Lucknow courts only.
Managing Director,
Uttar Pradesh Pasudhan Udyog Nigam Ltd.,
Directorate of Animal Husbandry,
Gokaran Nath Road, Badshah Bagh,
Lucknow-226001
Telephone Nos. - 0522-2740010; Fax- 0522-2740202
website : http://animalhusb.up.nic.in
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FORMAT ‘A’
The Managing Director,
UPPUNL,
Lucknow
Sir,
Subject : Proposal for Purchase of Equity Shares of M/s HIND AGRO
INDUSTRIES LTD.(HAIL), Aligarh
1.
I/ We have perused the proposal document for subject matter and
other details, and am/are willing to purchase 20 lakhs equity shares of
HAIL as mentioned above.
2.
We have perused all the terms and conditions for making the offer as
per advertisement dated _____ and the Instruction to Bidders
contained in the Bid Document, and hereby communicate our
agreement to be bound absolutely and unconditionally thereto.
3.
I certify that I am a citizen of India./ We are a (here indicate details of
constitution of offerer concern) registered under the (here indicate
name of act under which registered).
4.
In terms of the Clause 6 (vi), (Instruction to Bidders), we are
enclosing herewith earnest money for Rs. Twenty lakhs only by
Demand Draft no______dated_______ drawn on _____________in
favour of M/s U.P.Pasudhan Udyog Nigam Ltd., payable at Lucknow.
I/ We understand that no interest shall be payable on the earnest
money.
5.
The ‘Financial Bid’ in sealed cover is enclosed herewith.
6.
This offer shall remain valid for a period of ____ days from the date
of submission hereof.
Signature of Authorized Signatory
Name
:
Address
:
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FORMAT ‘B’
FINANCIAL BID
The Managing Director,
UPPUNL,
Lucknow
Sir,
Subject : Financial Bid for Purchase of Equity Shares of M/s HIND AGRO
INDUSTRIES LTD.(HAIL), Aligarh
1.
In terms of the terms and conditions as contained in the Bid
Document, I/ we hereby give our Financial Bid as under:
--------------------------------------------------------------------------------
2. Enclosed is Demand Draft no.______ dated_____drawn on________
for Rs.________crores only, being 50% of the Financial Bid, less
Earnest Money of Rs. 20 lakhs.
3. I/ we undertake to repay the balance 50% of the bid amount within 15
days of acceptance and confirmation of the bid by UPPUNL. I/we
further agree that in the event I/we fail to deposit the balance 50% of
the bid by Demand Draft within 15 days of acceptance of the bid by
UPPUNL, the 50% upfront amount inclusive of the earnest money
deposit of Rs.20 lakhs shall be forfeited to UPPUNL.
4. This offer shall remain valid for a period of ____ days from the date of
submission hereof.
Signature of Authorized Signatory
Name
:
Address
:
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