Ministry of Ayush, government of India has invited initial bids for selling its entire stake in Indian Medicines Pharmaceutical Corporation Ltd (IMPCL).
IMPCL is a Government of India Enterprise under the Administrative Control of Department of AYUSH, Ministry of Health and Family Welfare.
The government holds 98.11 percent stake in IMPCL and the rest 1.89 percent is held by Uttarakhand government PSU Kumaon Mandal Vikas Nigam Ltd.
The ministry has come out with a ‘global invitation’ for Expression of Interest for the proposed strategic disinvestment of IMPCL stake. Interested bidders with minimum net worth of Rs 70 crore as on 31 March, 2018, can put in their bids by 18 May, 2019.
If the strategic sale of IMPCL is carried out then the proceeds would add to the disinvestment fund of the government in the current fiscal.
The government has budgeted to raise Rs 90,000 crore through CPSE stake sale in current fiscal, up from Rs 84,972 crore last fiscal. Of this, the government had raised Rs 15,914 crore through strategic stake sale.