Invitation of “Expression of
Interest” for sale of equity shares in DPSC Limited
This announcement is neither a prospectus nor an offer or Invitation
for sale to the public of securities.
Andrew Yule & Company Limited (AYCL), a Government of India Enterprise,
along with its group Companies (collectively referred to as the Andrew
Yule group), United India Insurance Company
Limited (UII) and Life Insurance Corporation of India (LIC) jointly
holding 57.17% of the equity share capital of DPSC Limited (formerly
known as Dishergarh Power Supply Company Limited)
(DPSCL) wishes to sell their combined shareholding of around 57%
in DPSCL to a single strategic investor.
DPSCL, established in 1919, is engaged in generation, transmission and
distribution of electricity with its licensed area for distribution
covering 618 square KM in the Asansol – Raniganj industrial
belt in the state of West Bengal. The paid up share capital of
DPSCL as on March 31, 2007 was Rs. 42.3 million consisting of 4,233,868
shares of Rs.10 each, with its networth being Rs. 829
million. DPSCL recorded a turnover of Rs. 3167 million and
profit after tax of Rs. 22 million during the year ended March 31,
2008. Its shares are listed on the National Stock Exchange and the
Calcutta Stock Exchange.
Expressions of Interest (EOIs) are invited from parties satisfying the
qualification criteria, to acquire around 57% of the equity holding in
DPSCL from the Andrew Yule group, UII and LIC.
Details of the qualification criteria, format for submission of EOI
along with a brief write up on DPSCL can be obtained from the
Preliminary Information Memorandum (PIM), which can be
downloaded from www.andrewyule.com or collected from the address
indicated below.Interested Parties should submit their Expression of
Interest (EOI) in the prescribed formats at the
under-mentioned address, before 17.00 hours on September 9,
2008
All queries related to the EOI may be addressed to our advisors at the
address indicated below:
Mr. Shubham Gupta, Manager,
Deloitte & Touche Consulting India Private Limited (DTCIPL).
Bengal Intelligent Park, Building Alpha, 1st Floor ,Plot No. A 2, M 2
and N 2
Block EP and GP, Sector V ,Salt Lake Electronic Complex ,Kolkata -
700091
Tel : 0091-33-66121000, Fax : 0091-33-66121001, e-mail :
shugupta@deloitte.com
Only the parties that are found eligible in the sole discretion of the
Empowered Committee constituted for purposes of the sale of shares will
be informed of the same and provided further
information. The Empowered Committee is entitled to ask the parties for
any further information that they may deem fit in this regard.
This advertisement does not constitute and will not be deemed to
constitute, any commitment on the part of the Andrew Yule group, LIC
and UII (the “Selling Shareholders”). Furthermore, this
advertisement confers neither any right nor expectation on any
party to participate in the process of strategic sale of shareholding
in DPSCL.
The Selling Shareholders reserve the right to withdraw from the process
or any part thereof or vary any terms at any time or accept or reject
any/all offer(s) without assigning any reasons
whatsoever. The Selling Shareholders / DTCIPL shall not be
responsible for non- receipt of correspondence sent by post/ courier/
e-mail / fax.
Sale of equity shares in DPSC Limited
This announcement is neither a
prospectus nor an offer or Invitation for sale to the public of
securities.
Andrew Yule & Company Limited, along with its group Companies
(collectively referred to as the Andrew Yule group), United India
Insurance Company Limited and Life Insurance Corporation of
India jointly holding 57.17% of the equity share capital of DPSC
Limited (formerly known as Dishergarh Power Supply Company Limited)
wishes to sell their combined shareholding in
DPSCL to a single strategic investor.
The notice inviting Expressions of Interest along with the Preliminary
Information Memorandum specifying the qualification criteria and other
terms and conditions can be downloaded from
www.andrewyule.com or collected from the address indicated below:
Mr. Shubham Gupta, Manager,
Deloitte & Touche Consulting India Private Limited
Bengal Intelligent Park, Building Alpha, 1st Floor, Plot No. A 2, M 2
and N 2
Block EP and GP, Sector V ,Salt Lake Electronic Complex ,Kolkata -
700091
Tel : 0091-33-66121000, Fax : 0091-33-66121001, e-mail :
shugupta@deloitte.com
Interested Parties should submit their Expression of Interest in the
prescribed formats at the above-mentioned address before 17.00 hours on
September 9, 2008
Download PIM
