Invitation of "Expression of Interest" for Purchase of Shareholding of Industrial Promotion and Investment Corporation of Odisha Limited, Bhubaneswar in M/s. Noble Pharma Care Ltd., A/24, Chandaka Industrial Estate, Sector-B, PO- KIIT,Bhubaneswar - 24.

Industrial Promotion and Investment Corporation of Orissa Limited, (IPICOL), Bhubaneswar intends to sell its share holdings of Rs.50.00 lakhs i.e. (5.0 lakhs no. of shares of face value Rs.10/- per share) out of total equity base of Rs.168.65 lakhs of the company, M/s. Noble Pharma Care Ltd., A/24, Chandaka Industrial Complex, Sector - B, Bhubaneswar - 10 to any intending investor.

The Balance Sheet of the company is available in IPICOL's website as above for any additional data on the company, which can be available from Registrar of Companies, Odisha which the prospective can have access.

For any additional information on the subject, the prospective buyer/investor may also contact Sri Hara Govind Das, General Manager (Merchant Banking), IPICOL during office hours or on Mobile 9861065166.

The prospective buyer/investor may express his intention to purchase IPICOL's equity holdings may go through the information on the company as above and intimate in writing with clearly quoting the no. of shares he wants to buy along with the price he wants to pay. The offer letter should be addressed to the Chairman-cum-Managing Director, IPICOL and should reach him on or before 20.12.2005 through registered post/speed post in the address as above along with 10% of the offer value in shape of demand draft drawn in favour of IPICOL payable at Bhubaneswar. In case, IPICOL decides to disinvest the share holding in the same value in favour of the intending investor, then IPICOL will be informed in writing to prospective investor about acceptance his offer requesting him to deposit the balance amount within 30 days from the date of issue of the letter. In case the prospective bidder fails to deposit the amount within the stipulated period then the deposited amount will be forfeited. The Security deposit of the unsuccessful bidders will be refunded after the proposal of the highest bidder is accepted.

The Chairman-cum-Managing Director, IPICOL reserves right to reject any or all the offers thus received without assigning any reason thereof.
 

Sd/-
( Priyabrata Patnaik )
Chairman-cum-Managing Director.

 

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INDUSTRIAL PROMOTION AND INVESTMENT CORPORATION OF ORISSA LTD.
IPICOL HOUSE JANPATH, BHUBANESWAR - 751022
Phone : 0674 - 2542601, Fax : 0674 - 2543766 e-mail : info@ipicolorissa.com