Govt invites EoIs for IMPCL strategic sale

New Delhi: The government on Thursday invited Expression of Interest (EoI) from bidders by October 15 for 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.

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

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.