Offers are invited for rehabilitation of a company engaged in the manufacture of industrial slurry explosives with an installed capacity of 12,500 MTPA at Village Kelzar, in Seloo Taluka, Wardha District, Maharashtra.

ICICI Ltd. as an Operating Agency (OA) of the Board for Industrial and Financial Reconstruction (BIFR) invites offers for rehabilitation of a sick company with facilities at Village Kelzar, in Seloo Taluka, Wardha District, Maharashtra for the manufacture of 12,500 metric tonnes per annum of industrial slurry explosives. The rehabilitation proposal may include proposal for sale of assets / takeover / merger.

The OA will be guided, inter alia, by the following main considerations while evaluating the offers from interested parties:

• Track record of the party;
• Acceptability to institutions and BIFR;
• Willingness and ability to bring in maximum funds from own sources;
• Experience in the industry;
• Minimum reliefs/concessions from institutions, banks, state and central governments etc.

The OA reserves the right to accept or reject any offer without assigning any reason.

Interested parties may submit their proposals within 8 weeks from the date of this advertisement to Shri S. K. Rao, Senior Vice-President, ICICI Ltd. Mergers and Acquisitions Division, 6th floor, C-23 "G" Block, North East Wing, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Tel. 6536604 Fax.6531373

Mumbai
March 17, 1999