Skymap Pharmaceuticals to Acquire IMPCL for INR 121 Cr in Strategic PSU Sale
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The deal has transferred 100% equity ownership and management control of the state-run pharmaceutical company to the private bidder.
Uttarakhand-based pharma company, Skymap Pharmaceuticals, has received government approval to acquire Indian Medicines Pharmaceutical Corporation (IMPCL) for INR 121 Cr, marking the Centre’s first strategic PSU sale in FY25.
The deal has transferred 100% equity ownership and management control of the state-run pharmaceutical company to the private bidder following the issuance of the letter of award.
IMPCL, functioning under the Ministry of AYUSH, has long been associated with the manufacturing and supply of Ayurvedic and traditional medicines for government-backed healthcare programmes and institutions.
Established to support the promotion of Indian systems of medicine, the company has played a role in supplying formulations used across public healthcare networks, wellness initiatives, and AYUSH-linked schemes in India.
The approval for the acquisition was granted by the alternative mechanism panel comprising Union Road Transport and Highways Minister Nitin Gadkari, Finance Minister Nirmala Sitharaman, and AYUSH Minister Prataprao Ganpatrao Jadhav.
The finance ministry confirmed that Skymap Pharmaceuticals emerged as the highest bidder for the strategic sale.
The transaction is being viewed as an important development in the government’s broader disinvestment roadmap, which has increasingly focused on strategic sales and private sector participation in select public enterprises.
Strategic disinvestment involves transferring both ownership and management control of a public sector undertaking to a private entity, unlike minority stake sales, where operational control remains with the government.
The sale of IMPCL follows the government’s earlier strategic disinvestment of Ferro Scrap Nigam, a subsidiary of MSTC, which was sold to Japan-based Konoike Transport for INR 320 Cr in FY25.
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