Govt to sell stake in IMPCL, invites bids for asset valuer
New Delhi: The government will sell its entire stake in Indian Medicines Pharmaceutical Corporation Ltd (IMPCL) and is looking for a firm to value the assets of the company.
IMPCL is engaged in manufacture and supply of ‘ayurvedic’ and ‘unani’ medicines and is under the administrative control of ministry of ayurveda, yoga and naturopathy, unani, siddha and homoeopathy (AYUSH) with 98.11% stake held by Government of India and the remaining 1.89% by an Uttarakhand government PSU.
“The Government of India is considering strategic disinvestment of 100 per cent of its equity in IMPCL via a two-stage auction process. Ministry of AYUSH requires the services of a reputed Asset Valuer to carry out the valuation,” the government said while inviting request for the proposal.
Bidders would be required to submit their interest by 15 January to the ministry. The broad scope of work for the asset valuer is to carry out valuation of land and buildings, furniture and fixtures, lab and manufacturing equipment.
The property would be valued by any one or a combination of comparison method, income capitalisation, discounted cash flow, cost approach method and replacement valuation. IMPCL is an unlisted company and as on 1 November 2017, the company has 120 employees.