Govt OKs Indian Medicines Pharma stake sale to Skymap Pharma for INR 1.2 bln
This story was originally published at 20:19 IST on 26 May 2026
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NEW DELHI – The government has approved the sale of its entire equity stake in Indian Medicines Pharmaceutical Corp. Ltd. to Skymap Pharmaceuticals Pvt. Ltd. The group of ministers empowered by the Cabinet Committee on Economic Affairs known as Alternative Mechanism, comprising Union Cabinet Ministers for Road Transport and Highways, Finance, and Minister of State (Independent Charge) for Ministry of AYUSH, approved the highest bid of INR 1.21 billion, a finance ministry release said Tuesday.
Indian Medicines Pharmaceutical was set up in 1978 with the objective of manufacturing and supplying standardised ayurvedic and unani medicines. The government aims to collect INR 800 billion as miscellaneous capital receipts through the divestment of its stake in public-sector undertakings and asset monetisation in 2026-27 (Apr-Mar). The Cabinet had approved the strategic disinvestment in November, 2017. The company reported net profit of INR 176.53 million in FY25 on total income of INR 1.8 billion. End
Reported by Sagar Sen
Edited by Akul Nishant Akhoury
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