|The company was incorporated as a Private Limited Company in March 1992. the company started its operations in August 1993 and exported its first consignment of Frozen Sea Food to Spain and Japan during December, 1993. During September 1993, the company diversified its operations into infrastructure support services for aquaculture by supplying aquaculture equipment and inputs to the numerous Aqua farms. With a view to cater to the evergrowing demands, the company has entered into long term
agreements with several international companies of repute including Taiwan Mareden Group (aquaculture equipments), Taiwan, Aurum Aquaculture, U.S.A., (for drugs, chemicals, pesticides) M & M Supplies Inc., Canada, (for feeds and ingredients, chemicals and accessories), Aquacutlure Research and Environmental Associates (AREA) Inc., U.S.A (Sand Filters and Hatchery equipment) and Salt Creek Inc., U.S.A.,
(fro Brine shrimp eggs).
The main points of the agreement are:
1. Exclusive Agency arrangement for representing the principals for all the products manufactured by them in the territory of India.
2. The agent (Aquastride) will purchase from the principals on mutually agreed prices, products manufactured by them.
3. Provision for termination of contract on mutually agreed terms with advance notice of 2 months during the currency of agreement excepting the agreement entered into between the company and Aurum Aquaculture which would be valid till February 9, 1997.
The operations of this division is carried out under the name and style 'THE ACQUASHOP'. For this, the company has already identified franchises in many areas, notably, Nellore, Kakinada and Bhimavaram in Andhra Pradesh, Tuticorin and Nagapattinam in Tamil Nadu, Cochin in Kerala, Kumta in Karnataka, Panjim in Goa, Ratnagiri and Bombay in Maharashtra, Surat in Gujarat, Behrampur in Orissa and Calcutta in West Bengal. While many of these are already formalised and operational the remaining are under advanced stages of finalisation. The company has 6 franchise operational and has plans to have atleast 40 more in operation
During 1993, the company established its own Backwater Productivity Research center at Sheratalai, Kerala. The company has set up this research center over a 15 acre area and focuses at development of multiple products in Aquaculture using both freshwater and seawater resources and has successfully cultured various varieties of shrimps including Penaeus Monodon (Black Tiger), Penaeus Indicus (Indian White) and Metapenaeus Dobsoni and has been conducting research in a number of areas including Pharmaceuticals, nutrition, predator control, Biological control of effluent and disease management. The research center has
also undertaken various programmes on the control of effluents through biological means by using plants and sea weeds.
Aquastride Bio-Tech Private Limited was converted into a Public Limited Company in March 1994 and renamed as Aquastride Bio-Tech Limited. During February 1994, the company decided to diversify into High Technology Aquaculture and bio-technology research and as a first step towards this, the company has established Shrimp Brood Stock Bank along with a Nauplii Production Center and Larval Rearing Unit based on modified Galveston Technology. The broodstock bank project is estimated at Rs.125.00 lacs and is being funded by IDBI which is participating in the equity of the company to the extent of Rs.50.00 lacs and convertible term loan of Rs.50 lacs, to be converted into equity any time during the
currency of the loan in two phases, one half at par and the other at par or the lower of the book value and the CCI formula, whichever is higher, at IDBI's option. The promoters are funding the balance. The company has, through its inhouse R & D efforts, developed a few environmental friendly anti-bacterial and anti-fungal chemicals for specific use in aqua culture. Two of these products have already been launched in the market under the brand names 'AQS' and 'ALPROCIDE'. The past performance of the company is as given below:
-Signs one Time Settlement with Indian Bank
-Acquires Shantha Marine Biotechnologies, a subsidiary of Shantha Biotech. Shantha Marine Biotechnologies becomes the wholly owned subsidiary of the company
-Abl Biotech launches pharmaceutical division