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HINDUSTAN
INSECTICIDES LIMITED
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| Paid up capital (31.3.00) | Rs. 50.75 cr |
| GoI shareholding (31.3.00) | Rs. 50.75 cr (100%) |
| Net worth (31.3.00) | Rs. 14.46 cr |
| Net Profit / Loss (31.3.00) | Rs. (-)14.08 cr |
| Accumulated Loss | Rs. (-) 21.31 cr. |
| No. of employees (31.3.00) | 2240 |
| Major activity | Producer of agrochemicals / pesticides & DDT |
| Works located at | Rasayani (near Mumbai, Maharashtra) and Udyogmandal (near Kochi, Kerala) |
| Recommendations of Disinvestment Commission (August 1998) |
| To offer minimum of 51% of the equity to a strategic buyer along with management control and simultaneously to restructure manpower through a suitable VRS to surplus employees. Subsequently, the remaining equity could be offered to retail investors through public offering. |
| Government decision |
| To disinvest 51% of the company's equity capital through strategic sale with transfer of management control to the strategic partner. |
| Present status of implementation of Government decision |
| A.F. Ferguson & Co. have been appointed as Advisor. Expressions of interest from parties interested in taking a stake in the company received, and parties short-listed. Bid documents issued to the shortlisted bidders. Due to the withdrawal of the bidders from the disinvestment process, it was decided not to pursue the case any further and transfer the case back to the Administrative Ministry. |
| Last updated on 1/08/2002 |
