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Govt extends HLL Lifecare bid submission deadline till March 14

The government has for the second time extended to March 14 the deadline for potential buyers to submit EoIs for strategic sales-linked HLL Lifecare. The Department of Investment and Public Asset Management (DIPAM) had initially submitted preliminary offers on Dec. 14 for the sale of the government’s 100 percent stake in the health sector CPSE.

The last date to submit expressions of interest (EoI) was January 31. This was later extended to February 28.

In a notice on its website, DIPAM said that, in light of further requests from interested bidders to extend the deadline, the deadline for submitting EoI has been extended to March 14.

The expiration date for notification to Qualified Interested Bidders (QIBs) by DIPAM has also been extended by 14 days to 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 health care products, hospital supplies and other pharmaceutical products.

HLL is also engaged in the provision of health and diagnostic services, consultancy and contracting services for healthcare infrastructure projects and advisory services for the procurement of medical equipment and devices in the healthcare sector, targeting both domestic and international markets.

On March 31, 2021, the authorized share capital of HLL was Rs 300 crore and the paid-up share capital was Rs 15.53 crore. With this extension of the deadline, the strategic sale of HLL Lifecare is now expected to roll over into the next fiscal year beginning April 1. Naveen Bharat

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