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Govt invites Expression of Interest from bidders for IMPCL strategic sale

The turnover of the company rose by 59 per cent to Rs 261 crore in FY22. Its profit after tax stood at Rs 34 crore for 2021-22

Divestment

Divestment

Nikesh Singh New Delhi

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The government on Thursday invited Expression of Interest (EoI) from bidders by 15 October for the strategic sale of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL).

The Government of India holds a 98.11 per cent stake in IMPCL, under the administrative control of the Ministry of Ayush. The remaining 1.89 per cent is held by Kumaon Mandal Vikas Nigam Ltd (KMVNL), an undertaking of the Government of Uttarakhand.

As of 31 March 2022, the company had a paid-up share capital of Rs 51.98 crore. The total campus area of IMPCL is 35.81 acres in Almora, Uttarakhand.

The turnover of the company rose by 59 per cent to Rs 261 crore in FY22. Its profit after tax stood at Rs 34 crore for 2021-22.

"The Government of India intends to disinvest its entire stake in IMPCL through strategic disinvestment with the transfer of management control. KMVNL, having a stake of 1.89 per cent in IMPCL, has expressed its willingness to disinvest along with the Government of India," the Department of Investment and Public Asset Management (DIPAM) said.

The company has 85 regular employees and 12 contractual employees.

The company is presently manufacturing 656 classical ayurvedic, 332 unani, and 71 proprietary ayurvedic medicines for a varied spectrum of diseases.

It supplies ayurveda and unani medicines to all the states under the National Ayush Mission (NAM) and 6,000 centres of Jan Aushadhi Kendras.

"IMPCL is the only central sector public enterprise (CSPE) whose price has been successfully accepted in the Government e-Market (GeM) portal for procurement purposes, and products are available for the procurement of medicines," DIPAM said.

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First Published: Aug 31 2023 | 10:11 PM IST

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