Latest News | Govt Extends HLL Lifecare Bid Submission Deadline Till March 14

New Delhi, Feb 27 (PTI) 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 on December 14 invited preliminary bids for selling the government's 100 per cent stake in the health sector CPSE.

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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.

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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 Ministry of Health and Family Welfare, is involved in manufacturing and marketing of 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 Rs 300 crore and its paid-up share capital was Rs 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 Rs 65,000 crore for 2022-23, down from Rs 78,000 crore estimated to be garnered this fiscal year ending March 31.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)