INVITATION FOR BID (IFB)
(
ii)
Remarks: Any of the above cases shall be supported by documentary evidence
issued by the "Owner". "Owner" means the entity which has the original
requirement of the subject work and has initiated and awarded the work to the
contractor (bidder) for executing the reference work against which the credentials
have been submitted. And the "Owner" defined as above is not a contractor to
any other entity for the reference work. In case, the bidder has worked as
approved sub-Contractor/sub-vendor, he has to provide documentary evidence
issued by the "Owner".
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2
.0 Financial Criteria
.1 The average annual turnover of the Bidder, in the preceding three (3) financial
years as on the date of Techno-Commercial bid opening, should not be less than
Rs 321 Lakhs. (Rupees Three Hundred Twenty One Lakhs only).
In case a bidder does not satisfy the financial criteria, stipulated above on its own,
its Holding Company would be required to meet the stipulated turnover
requirements above, provided that the net worth of such Holding Company as on
the last day of the preceding financial year is at least equal to or more than the
paid-up share capital of the Holding Company. In such an event, the bidder would
be required to furnish along with its Techno-Commercial bid, a Letter of
Undertaking from the Holding Company, supported by the Holding Company’s
Board Resolution as per the format enclosed in the bid documents, pledging
unconditional and irrevocable financial support for the execution of the Contract by
the Bidder in case of award .
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.2 The Net Worth of the bidder as on the last day of the preceding financial year
reckoned on the date of techno-commercial bid opening) should not be less than
00% of the Bidder’s paid-up share capital. In case the Bidder meets the
(
1
requirement of Net worth based on the strength of its Subsidiary (ies) and/or
Holding Company and/or Subsidiaries of its Holding companies wherever
applicable, the Net worth of the Bidder and its subsidiary (ies) and/or Holding
Company and/or subsidiary (ies) of the Holding Company, in combined manner
should not be less than 100% of their total paid-up share capital. However
individually, their Net worth should not be less than 75% of their respective paid-
up share capitals
Net worth in combined manner shall be calculated as follows:
Net worth (combined) = (X1+X2+X3) / (Y1+Y2+Y3) X 100
Where X1, X2, X3 are individual Net worth which should not be less than 75% of
the respective paid up share capitals and Y1, Y2, Y3 are individual paid up share
capitals.
In case the bidder is not able to furnish its audited financial statements on stand
alone entity basis, the unaudited unconsolidated financial statements of the bidder
can be considered acceptable provided the bidder further furnishes the following
documents for substantiation of its qualification :
(
a) Copies of the unaudited unconsolidated financial statements of the bidder along
with copies of the audited consolidated financial statements of its Holding
Company.
Section I: Invitation For Bids (IFB):
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