Key Highlights:
- The Government of India has approved Skymap Pharma as the strategic buyer for the disinvestment of Indian Medicines Pharmaceutical Corporation Limited (IMPCL), a CPSE under the Ministry of AYUSH. The Alternative Mechanism, comprising the Union Ministers for Road Transport & Highways, Finance, and AYUSH, approved Skymap’s highest bid of ₹121Cr for the acquisition of 100% equity shareholding and transfer of management control of IMPCL
- Incorporated in 1978, IMPCL was established to manufacture and supply standardized Ayurvedic and Unani medicines. The strategic disinvestment process followed the Cabinet Committee on Economic Affairs’ in-principle approval granted in Nov 2017 and was executed through a two-stage open competitive bidding process involving transaction advisers, legal advisers, and asset valuers. A Preliminary Information Memorandum issued in Sept 2023 attracted interest from seven bidders, all of whom were shortlisted after due diligence and security clearances
- The Request for Proposal and Share Purchase Agreement were issued in Dec 2025, with two technically qualified financial bids received by Jan 2026. Skymap Pharmaceuticals emerged as the highest bidder with an offer exceeding the reserve price. The transaction was overseen through a multi-layered consultative mechanism involving the Inter-Ministerial Group, Core Group of Secretaries on Disinvestment, and the empowered Alternative Mechanism, while DIPAM and the Ministry of AYUSH have been authorized to complete the transaction closure at the earliest
Implications:
This means Skymap Pharma is set to take over IMPCL as the government exits ownership, turning a long-running public-sector Ayurvedic and Unani manufacturer into a privately controlled business.
The deal could improve operational efficiency, procurement discipline, and commercialization of IMPCL’s traditional medicine portfolio, while also signaling the government’s continued willingness to monetize CPSE assets in AYUSH-linked manufacturing.
Source: Press Information Bureau
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