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The government has invited global expression of interest (EoI) to sell 100 per cent of its equity in two public sector enterprises — HLL Lifecare Ltd and Projects & Development India Ltd (PDIL).
Both are part of the Centre’s strategic disinvestment programme, which are to be transferred along with the management.
Thiruvananthapuram-based HLL Lifecare is known for the condom brand ‘MOODS’, while PDIL is a PSU under the Department of Fertilisers, Ministry of Chemicals and Fertilisers.
The process will be implemented through open competitive bidding. EoIs can be submitted by January 31, said the advertisement issued by DIPAM (Department of Investment and Public Asset Management) on Tuesday.
Read more: Buyers shop for condoms in privacy of Net
Evolution of HLL Lifecare
Incorporated on March 1, 1966 as Hindustan Latex Limited under the Health Ministry, HLL was renamed as HLL Lifecare Ltd in 2009.
It began as a manufacturer of natural rubber latex condoms. Later, it diversified into a healthcare major with emphasis on healthcare services, vaccine security, medical devices park, etc.
The ₹1,400-crore company says that with condom plants coming up at different locations, the total capacity was enhanced to two billion pieces, matching global scales.
The flagship brand ‘MOODS’ comes in more than 19 variants. The company’s marketing portfolio expanded considerably with more than 70 brands under its fold.
TN unit excluded from sale
According to preliminary information memorandum (PIM) related to the company’s disinvestment, 430.10 acres of land at Chengalpattu in Tamil Nadu in the possession of HLL on lease basis will not form part of the strategic disinvestment.
This land was given for setting up an integrated vaccine complex (IVC) for making vaccines required for the Centre’s universal immunisation program (UIP) and new generation vaccines and a ‘Medipark’ — an industrial park for setting up medical device- making units.
Later, this land was sub-leased to two subsidiaries — HLL Biotech Ltd. and HLL Medipark Ltd., which were demerged from HLL Lifecare Ltd. in March.
Read more: HLL Lifecare invites EoI from vaccine-makers to use TN facility
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