New Delhi: Government Invites Expression of Interest for Disinvestment of Indian Medicines Pharmaceutical Corporation Limited (IMPCL)
The government has sought expression of interest for selling its full equity holding in Indian Medicines Pharmaceutical Corporation Limited (IMPCL) under the Ministry of Ayush. This strategic disinvestment would involve the government giving up its ownership and transferring management control to a private company.
DIPAM Issues Information Memorandum for Disinvestment
The Department of Investment and Public Asset Management (DIPAM) has issued an information memorandum regarding the disinvestment of IMPCL. The government intends to sell its holding of 98.11%, while the Kumaon Mandal Vikas Nigam Limited, a unit of the Uttarakhand government, holds the remaining shares at a price determined through the bidding process.
Eligibility Criteria for Potential Buyers
Potential buyers must meet the following criteria to be considered:
- Minimum Net Worth of Rs. 120 crore
- Profitable and operational for more than two years
- Consortia are allowed with the lead investor having a minimum net worth of ₹48 crore and the partners limited to five, each having ₹12 crore net worth.
Restrictions on Participation
Central and state government entities, including public sector enterprises and government-owned cooperative societies, are not eligible to participate in the bidding process for the disinvestment. The last date for submitting bids is October 15.
Indian Medicines Pharmaceutical Corporation Limited (IMPCL) is a leading Central Public Sector Enterprise (CPSE) involved in the manufacturing and supply of authentic and standardized Ayurvedic and Unani Medicines. Key information about IMPCL includes:
- Profit-making organization since inception
- Recorded profit after tax of Rs. 33.76 crore for FY22 on a turnover of ₹260.84
- Only CPSE whose price/rate has been successfully accepted in the Government-e-Market (GeM) portal for procurement purposes
- Products are available for procurement of medicines