This announcement is neither a prospectus nor an offer or an invitation for sale of shares, securities or debentures to the public.

 

EXPRESSION OF INTEREST – FOURTH TRANCHE

 

1.      Background

 

In continuation of the ongoing Restructuring/Disinvestment in India Tourism Development Corporation (“ITDC” or the “Company”), 5 hotel properties are being offered for sale as separate units.

 

2.      Properties Offered

 

In the fourth tranche of the restructuring and disinvestment programme, the following properties have been selected for which brief details are provided below.

 

Properties offered for sale:

      

Sl. No.	Property Name	Location	Category/No. of Rooms	Approx. Area (Acres)*
1.	Hotel Kanishka	New Delhi	Classic – 317 rooms	2.40
2.	Hotel Ranjit	New Delhi	Refer Note**	3.70
3.	Hotel Indraprastha (Ashok Yatri Niwas)	New Delhi	Comfort – 558 rooms	2.50
4.	5 Star Hotel Project	Chandigarh	Elite – 130 rooms (Under implementation)	2.91
5.	Hotel Varanasi Ashok	Varanasi	Classic – 88 rooms	9.50

*1 Acre = 4046.9 sq. metres

** Under the Master Plan of Delhi, the existing land use of the plot on which the property is situated is "Local Shopping". The property is offered on the basis of its existing land use.

 

Pre-Qualification Criteria

 

Entities submitting an EOI for the above hotel properties should have a minimum combined net worth of the following amounts as at the latest audited balance sheet date.

 

·        Properties at serial nos. 1 and 2 – Rs. 350 million

·        Properties at serial nos. 3 and 4              – Rs. 100 million

·        Property at serial nos. 5                          – Rs. 50 million

 

3.      Foreign Direct Investment

 

Sector specific guidelines on foreign direct investment in "Housing & Real Estate"  and "Hotels & Tourism" given in the Manual on Industrial Policies & Procedures in India, Annexure IV - Points 5 and 18 respectively, of the Secretariat for Industrial Assistance, Ministry of Industry, Government of India of February, 2000 will be applicable (http://indmin.nic.in).

 

4.      Process

 

Entities interested in one or more of the above mentioned properties in the proposed restructuring and disinvestment (“Interested Parties”), are required to apply for a Request for Qualification (“RFQ”) to Mr. Ashish Guha (ashish.guha@lazard.com) or Mr. Chetan Shah (chetan.shah@lazard.com) at Lazard India Limited (Advisor to GoI), 62, Basant Lok, Vasant Vihar, New Delhi – 110 057 (Phone: 91-11-6145369 Fax: 91-11-6147482).

 

Additional information on ITDC and the above properties and RFQ format can be accessed at: www.theashokgroup.com

 

Entities shall submit a separate RFQ for each property they are interested in. A processing fee towards due diligence shall be payable by demand draft/banker's cheque favouring India Tourism Development Corporation payable at Delhi at the rate of:

Rs. 1,00,000/- (Rupees One lakh only) each for properties at serial nos. 1 and 2

Rs. 40,000/- (Rupees Forty Thousand only) each for properties at serial nos. 3 through 5.

The processing fee will be refunded to the parties who do not qualify. The completed RFQ with all relevant documents and the fee amount should be submitted to Lazard India Limited not later than April 25, 2002.

 

No interest will be entertained at a later stage in respect of properties for which a separate RFQ has not been submitted.

 

5.      Joint Ventures / Consortia

 

In case of a joint venture/consortium proposed to be formed specifically for the purpose of this investment, the details of the members of the joint venture/consortium, separate confirmation from each member of the proposed joint venture/consortium and the extent of their interest therein are required to be given as part of the EOI. Further changes in the membership of the proposed joint venture/consortium may be permitted up to the stage of submission of the financial bid, provided the quality of the joint venture/consortium is not adversely affected. GoI has the sole discretion to determine the impact of the change in membership on the quality of the joint venture/consortium and reject a proposal for such reason.

 

Interested Parties deemed fit by GoI/ ITDC and Lazard  (“Qualified Interested Parties”) will subsequently be provided with further information to enable them to evaluate the opportunity.

 

This advertisement constitutes no form of commitment on part of GoI/ITDC or Lazard India Limited other than to provide further information on the restructuring and disinvestment process to the Qualified Interested Parties, which request for the same. Furthermore, this advertisement confers neither a right nor an expectation on any party to participate in the restructuring and disinvestment process. The GoI/ITDC and Lazard India Limited reserve the right to withdraw from the process or any part thereof or to vary any of its terms at any time without giving any reasons.

ITDC RESTRUCTURING / DISINVESTMENT

REQUEST FOR QUALIFICATION (RFQ)

 

A separate RFQ should be submitted for each hotel property. Please specify the name of the hotel property for which this RFQ is submitted:                                     ..

 

1.      Name of the Interested Party        :

 

2.      Legal Status                                  : Incorporated / Not Incorporated

 

3.      Year and Country of Incorporation:

 

4.      Please Specify                              : Public Company/Private Company/Joint Venture/

Consortium / Partnership Firm etc. (In case of a consortium, each member of the proposed consortium should attach a written confirmation to act jointly in respect of their bid. Each member of the proposed consortium should also attach a "Power of Attorney" in favour of the lead member to act on their behalf in respect of this bid. )

 

5.      Details of Shareholding/Interest    :

 

6.      Role of each Member in the          :

Consortium  i.e., Funding or Hotel

Management 

 

7.      Stock Exchange(s) where Listed :

      (if applicable)

 

8.      Address of Registered Office       :

 

9.      Brief Description of Business(es)            :

      and Operations

 

10.  Details of hotel operations            :

 

Name of Hotel	Whether owned/managed	Star Classification*	No. of Rooms	Location (Town, Country)

* - Please attach certificate as evidence of star classification.

     

11.  Turnover and Networth                 :

(Please attach audited Annual Accounts for the last 3 years. In case of entities other than listed public companies, copies of Annual Accounts should be duly certified by a chartered accountant)

 

12.  Source(s) of Funding                    :

 

13.  Possibility of Foreign Direct          : Yes / No

      Investment

 

14.  Contact Person(s)  - Name          :

                                     - Designation

                                     - Address

              - E mail

                                     - Telephone No.

                                     - Fax No.

Information about the properties

 

 

1. Hotel Kanishka, New Delhi

 

 

Combined Area of Kanishka and Indraprastha: 4.9 Acres* (Approx.)

 

Accommodation

 

Type	No of rooms
Suites	17
Studio rooms	84
Doubles	53
Twins	163
Total	317

 

Dining facilities

 

Chinese restaurant

Multi-cuisine restaurant

24 hour coffee shop

Tea lounge.

Cocktail bar

Rooftop bar

 

Banquet and other facilities

 

Banquet hall                              - 225 pax –(Theatre style)

Party room                               - 25 pax (Theatre style)

Party room (rooftop)                - 50 pax (Theatre style)

Swimming pool

Shopping facility

 

Transaction Structure

 

To be offered for "Sale".

 

* - 1 Acre = 4046.9 square metres.

 

 

 

 

 

2. Hotel Ranjit, New Delhi

 

Hotel Ranjit is strategically located at the junction of Old and New Delhi. It offers comfort and convenience for the budget traveller.

 

Area                                        : 3.7 Acres* (Approx.)

 

Accommodation

 

Type	No of rooms
Doubles	40
Singles	146
Total	186

 

Dining facilities

 

Multi-cuisine restaurant

Coffee shop

Bar

 

Banquet and other facilities

 

Conference room                                  - 100 pax (Theatre style)

Swimming pool

Shopping facility

 

Transaction Structure

 

To be offered for "Sale".

 

* - 1 Acre = 4046.9 square metres.

 

3. Hotel Indraprastha, New Delhi (Ashok Yatri Niwas)

 

Hotel Indraprastha (Ashok Yatri Niwas), adjoining Hotel Kanishka is ITDC's first budget hotel in Delhi. Its accommodation of 4-bedded and twin-bedded rooms lay emphasis on providing the basic amenities to the budget traveller.

 

Combined Area of Kanishka and Indraprastha       : 4.9 Acres* (Approx.)

 

Accommodation

 

Type	No of rooms
Twins	484
Four bedded	74
Total	558

 

Dining facilities

 

South Indian cuisine restaurant

Cafeteria

Bar

 

Banquet and other facilities

 

Function hall                             - 150 pax (Theatre style)

Shopping facility.

 

Transaction Structure

 

To be offered for "Sale".

 

* - 1 Acre = 4046.9 square metres.

 

4. Varanasi Ashok, Varanasi

 

Located in the ancient and venerable city for Hindus, Hotel Varanasi Ashok is a modern 5-storeyed structure. The property is situated on the Mall Road in the cantonment area of Varanasi. It is an ideal location to explore the wonders of this unique city, and experience the pulse of a glorious civilisation. 

 

Area                                        : 9.5 Acres* (Approx.)

 

Accommodation

 

Type	No of rooms
Twins	88
Total	88

 

Dining facilities

 

Multi-cuisine restaurant

Bar

 

Banquet and other facilities

 

Banquet hall                              - 200 pax (Theatre style.)

Party room                               - 25 (Theatre style)

Lawns                                      - 500 pax

Swimming pool

Shopping facility

 

Transaction Structure

 

To be offered for "Sale".

 

* - 1 Acre = 4046.9 square metres.