Waterbase Ltd, a Thapar Group aquaculture company based at Nellore (Andhra Pradesh) is the largest Indian player in the industry(aquaculture) and was incorporated in Nov. 1987. The company's 100% integrated aquaculture EOU consisting of a hatchery, a farm, a feed mill and a process plant set up in consultation with Luxe Enterprises, Taiwan was commissioned in July 1993. This project was part funded by a public issue of equity shares in June 1992. Again in January 1995 the company went for an public issue to part finance its expansion project of hiking capacity to 35000 tpa from the earlier capacity of 15000 tpa. In 1996-97, the company has successfully commissioned the fresh water shrimp hatchery and the next year the company has installed blast freezer enabling the company to process fish. Owning of Green cards for Exports to the US and HACCP complaint processing plant has given the company an advantage in pricing its products. Japan, USA and middle East countries were the major markets for the company. The company has obtained European Union approval for exports in 2000-01. The export of high quality value added products to USA will start once the company got the United States FDA approval was obtained. The FDA of US has inspected our plant to assess suitability in 2000-01. Feeds produced by the company enjoys strong consumer acceptance and the company's feed mill was accredited with ISO 9002. The company 's R&D efforts to produce high quality feeds to meet differing farming requiremts of aquaculturists are successful and the company has launched two new extensive shrimp feeds under the brand names 'Supreme'(for brackish water) and 'Magnum' (for fresh water) during the year 1998-99. The company has augmented the feed mill capacity by 30% with the installation of two additional lines. The company which is incurring losses for several years owing to the external factors affecting the industry has decided to cleanse its Balance Sheet by adjusting its accumulated losses with the share premium. Pursuant to the Family Settlement Agreement and upon the transfer of voting rights, the existing Thapar Group shall be realigned and there shall be four separate groups belonging to each Thapar Brother. Consequently the company is in favour of IMT.