PremiumHLL, a CPSE under the ministry of health and family welfare, is involved in the manufacturing and marketing of a range of contraceptives, women's healthcare products, hospital supplies as well as other pharmaceutical products
The central government has received multiple preliminary bids for HLL Lifecare, informed the secretary of DIPAM on Monday.
"Multiple expressions of interest received for privatization of HLL Lifecare Limited (HLL). The transaction moves ahead to the next stage," tweeted Tuhin Kanta Pandey of DIPAM.
The last date for prospective buyers to submit EoIs was 14 March.
The due diligence process will begin now, following which financial bids will be put in by interested bidders.
The Department of Investment and Public Asset Management (DIPAM) had initially on 14 December invited preliminary bids for selling the government's 100% stake in the health sector CPSE.
The last date for submitting an expression of interest (EoI) was 31 January. This was later extended till February 28 and further to March 14. The due date for intimation to Qualified Interested Bidders (QIBs) by DIPAM too has been extended by a fortnight till 28 March.
HLL, a CPSE under the ministry of health and family welfare, is involved in the manufacturing and marketing of a range of contraceptives, women's healthcare products, hospital supplies as well as other pharmaceutical products.
It is also engaged in providing healthcare and diagnostic services, consultancy and contract services for healthcare infrastructure projects.
HLL also provides consultancy services for the procurement of medical equipment and devices in the healthcare sector and caters to both domestic and international markets.
As of 31 March 2021, HLL's authorised capital was ₹300 crore and its paid-up share capital was ₹15.53 crore.
The strategic sale of HLL Lifecare is expected in the next fiscal year beginning April 1.
The government has set a disinvestment target of ₹65,000 crore for 2022-23, down from ₹78,000 crore estimated to be garnered in the ongoing fiscal year ending 31 March.
With inputs from agencies.
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