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Govt invites initial bids for strategic sale of IMPCL

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IMPCL is engaged in manufacture and supply of ‘ayurvedic’ and ‘unani’ medicines and is under the Ministry of AYUSH

The Government has invited initial bids for selling its entire stake in Indian Medicines Pharmaceutical Corporation Ltd (IMPCL).

IMPCL is engaged in manufacture and supply of ‘ayurvedic’ and ‘unani’ medicines and is under the Ministry of AYUSH.

The Government holds 98.11 per cent stake in IMPCL and the rest 1.89 per cent is held by Uttarakhand Government PSU Kumaon Mandal Vikas Nigam Ltd.

The Government has come out with a “global invitation” for Expression of Interest for the proposed strategic disinvestment of its entire stake in IMPCL.

Interested bidders with minimum net worth of Rs 70 crore as on March 31, 2018, can put in their bids by May 18. If the strategic sale of IMPCL goes through, the proceeds would add to the disinvestment kitty of the government in the current fiscal.

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