INVITATION FOR BID (IFB)
Section I: Invitation For Bids (IFB):Version2
Page 3 of 5
Note- All values are exclusive of GST/ other taxes.
Notes for Clause 1.0 above:
1. The word “executed” means the bidder should have achieved the criteria specified in the above
QR within the preceding seven (07) year period even if the contract has been started earlier and/or
is not completed/ closed.
2. Reference work executed by a bidder as a sub-contractor may also be considered provided the
certificate issued by main contractor is duly certified by Project Authority specifying the scope of
work executed by the sub- contractor in support of Qualifying Requirements.
2.0 Financial Criteria
2.1 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 22.29 Crore (Rupees Twenty
Two Crore Twenty Nine Lakh only ).
n 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.
2.2 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 100% of the Bidder's paid-up share
capital. In case the Bidder meets the 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) = (Xl+X2+X3) / (Y1+Y2+Y3) X 100
Where Xl, X2, X3 are individual Net worth which should not be less than 75% of the
respective paid up share capitals and YI, Y2, Y3 are individual paid up share capitals.
2.3 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.
(b) A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the