Govt extends HLL Lifecare bid submission deadline till February 28

The government has extended the deadline by about a month till February 28 for prospective buyers to submit the expression of interest (EoI) for strategic sale-bound HLL Lifecare. The Department of Investment and Public Asset Management (DIPAM) had on December 14 invited preliminary bids for selling the government’s 100 per cent stake in the health sector CPSE. The last date for expression of interest (EoI) was January 31.

In view of the prevailing situation arising out of the COVID-19 pandemic and on the request of the interested bidders, the late date for submission of EoIs is extended to February 28, DIPAM said in a notice on its website.

The due date for intimation to the qualified interested bidders (QIBs) by the DIPAM has also been extended by a month till March 14.

HLL, a CPSE under the Ministry of Health and Family Welfare, is involved in manufacturing and marketing 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 financial year beginning April 1.