Govt extends HLL Lifecare bid submission deadline till March 14

PTI | | Updated on: Feb 27, 2022
Representative image

Representative image | Photo Credit: time99lek

The last date for submitting expression of interest (EoI) extended till February 28.

The government has for the second time extended till March 14 the deadline for prospective buyers to submit EoIs for strategic sale-bound HLL Lifecare.

The Department of Investment and Public Asset Management (DIPAM) had initially invited preliminary bids for selling the government's 100 per cent stake in the health sector CPSE. The last date for submitting expression of interest (EoI) was January 31. This was later extended till February 28.

In a notice on its website, DIPAM said in view of further requests received from the interested bidders to extend the deadline, the last date for submission of EoI has been extended till March 14. The due date for intimation to Qualified Interested Bidders (QIBs) by DIPAM too has been extended by a fortnight till March 28.

HLL, a CPSE under the Ministry of Health and Family Welfare, is involved in manufacturing and marketing a range of contraceptives, women's healthcare products, hospital supplies as well as other pharmaceutical products.

HLL is also engaged in providing healthcare and diagnostic services, consultancy and contract services for healthcare infrastructure projects and consultancy services for procurement of medical equipment and devices in the healthcare sector and caters to both domestic and international markets.

As of March 31, 2021, HLL's authorised capital was ₹300 crore and its paid-up share capital was ₹15.53 crore. With this deadline extension, the strategic sale of HLL Lifecare is now expected to spill over to 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 this fiscal year ending March 31.

Published on February 27, 2022
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