# Inter-ministerial panel has approved the strategic sale of state-run Indian Medicines Pharmaceutical Corporation (IMPCL) to Skymap Pharmaceuticals.

*business · news · 2026-05-26 · The Economic Times*

## Key points

- Skymap Pharmaceuticals will acquire 100% ownership of Indian Medicines Pharmaceutical Corporation for ₹121 crore.
- This is the first strategic sale of a public sector entity in FY25.
- The award letter for the IMPCL sale to Skymap Pharmaceuticals has been officially issued.
- Secretaries of DIPAM and AYUSH are authorized to complete the closure of this transaction soon.

Synopsis The inter-ministerial committee has officially sanctioned the acquisition of the Indian Medicines Pharmaceutical Corporation by Skymap Pharmaceuticals for a whopping ₹121 crore, securing a 100% ownership stake. This pivotal transaction marks the first strategic sell-off of a public sector entity in FY25, with the award letter now in circulation. New Delhi: An inter-ministerial panel has approved the strategic sale of state-run Indian Medicines Pharmaceutical Corporation (IMPCL) to Skymap Pharmaceuticals for ₹121 crore. The alternative mechanism-comprising road transport and highways minister Nitin Gadkari, finance minister Nirmala Sitharaman and Ayush minister Prataprao Ganpatrao Jadhav, who heads the administrative ministry of the state-run entity-cleared the highest bid placed by Skymap for a 100% equity in IMPCL along with management control, the finance ministry said in a statement on Tuesday. "The letter of award has been issued to the successful bidder. Secretary, DIPAM (Department of Investment and Public Asset Management) and secretary, AYUSH, have been authorised to complete and close the transaction as early as possible," the ministry said. This is the first strategic sale of a state-run company since that of Ferro Scrap Nigam, a subsidiary of MSTC, to Japan's Konoike Transport for ₹320 crore in FY25. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless

**Companies:** Skymap Pharmaceuticals, Indian Medicines Pharmaceutical Corporation
**Countries:** India

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/skymap-pharma-to-buy-state-run-indian-medicines-pharma-for-rs-121-crore/articleshow/131336957.cms)

---

Canonical: https://newsio.io/n/59866ecd-efa5-4c9d-a1a9-230855e2b513/inter-ministerial-panel-has-approved-the-strategic-sale-of-state-run-indian-medi
Summarized by Newsio from The Economic Times. https://newsio.io/how-it-works