Skymap Pharma to Acquire State-Run IMPCL for Rs 121 Crore in Govt Disinvestment Deal
New Delhi: Skymap Pharmaceuticals Pvt Ltd is set to acquire state-run Indian Medicines Pharmaceutical Corporation Limited (IMPCL) for Rs 121 crore after emerging as the highest bidder in the government's strategic disinvestment process.
An inter-ministerial panel approved the sale of 100 per cent equity stake along with transfer of management control of IMPCL to Skymap Pharmaceuticals. The winning bid submitted by the company stood at Rs 121,00,94,400, which was above the reserve price fixed for the transaction.
IMPCL functions under the Ministry of Ayush and is engaged in manufacturing Ayurvedic and Unani medicines. The company operates a manufacturing facility in Almora, Uttarakhand.
The strategic sale proposal received approval from the Alternative Mechanism, a ministerial panel empowered by the Cabinet Committee on Economic Affairs (CCEA). The panel comprises Union ministers responsible for finance, road transport and highways, and Ayush.
Reports stated that the strategic disinvestment process for IMPCL had been initiated around three years ago. Earlier, the Cabinet Committee on Economic Affairs had granted in-principle approval for strategic sale of the government’s stake in the company through a competitive bidding route.
The Department of Investment and Public Asset Management (DIPAM) had invited expressions of interest from bidders in September 2023. Seven entities initially submitted interest and all were shortlisted as qualified bidders for the next stage of the process.
After completion of due diligence and security clearances from the Ministry of Home Affairs, request for proposal documents and share purchase agreement terms were issued to qualified bidders in December 2025.
According to reports, two financial bids were eventually submitted by January 20, 2026 and both bidders qualified technically after evaluation. The financial bids were later opened in the presence of bidder representatives.
The report stated that the government has now issued the Letter of Award to Skymap Pharmaceuticals. Secretary DIPAM and Secretary Ayush have also been authorised to complete the transaction process at the earliest, reports The Economic Times
The deal marks a significant strategic disinvestment transaction involving a government-owned pharmaceutical company operating in the Ayurvedic and Unani medicines sector.
The report further noted that the government continues to focus on strategic disinvestment and monetisation initiatives as part of its broader asset monetisation programme.
