New Delhi, Aug 14: Himalya International Ltd (HIL) on Monday said it will offer 10 lakh shares to S&D Mushrooms Inc of US for $1.7 million.HIL, a 100 per cent export-oriented unit and the country's largest mushroom producer, will offload its stake at Rs 75 a share amounting to about Rs 7.5 crore.The company has also signed a MoU with the US company for exporting 70 containers of mushrooms annually, HIL chairman Manmohan Malik said, adding "we have bagged orders for 1,400 tonne of frozen potatoes from the US government."
Two other US-based companies Mushroom Associates Inc and Goodwin Refrigeration, has also evinced interest in picking up 11 per cent stake in the company's IT subsidiary HIL Infotech.The company, which has a B2B portal `E.foodcommerce.com' has plans to list shares of HIL Infotech in Nasdaq by the end of this fiscal, the company said in a release.
HIL Infotech, which posted a sales of Rs 102.54 lakh and net profit of Rs 46.79 lakh in first quarter of 2000-01, will soon start back-end services in India.
This will improve the company's bottomline and enable it to declare a interim dividend this year, Malik said.HIL posted a net profit of Rs 103.69 lakh in the last quarter ending June 2000 and a sales of Rs 485.25 lakh.
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