Even private equity players like KKR are looking at the sale keenly as an entry point into the Indian nutrition foods market.
GlaxoSmithKline's $4 billion (around Rs 27,330 crore) consumer nutrition business in India is set to go under the hammer soon and has evinced interest from companies like Coca-Cola, Nestle, Hindustan Unilever and ITC.
According to a CNBC TV 18 report, the submission of the first non-obligatory bids may happen in August, while the entire sale process is expected to be completed within 3-4 months.
In response to queries sent by the TV channel, ITC, Coca-Cola, HUL, Nestle India said they would not like to comment on market speculation.
GSK responded by saying that the strategic review of its consumer nutrition business is still underway, and will mostly be completed by the end of the year.
The four major fast moving consumer goods manufacturers are not the only ones interested in GSK's consumer nutrition business. Even private equity players like KKR are looking at the sale keenly as an entry point into the Indian nutrition foods market.
The company is considering the sale of its malted food drink (MFD) brands, including Horlicks, Boost and Maltova. Horlicks holds a 44 percent share of the domestic MFD market, which is currently worth Rs 8,000 crore.
In fact, India is one of the major markets for GSK when it comes to these brands, because it accounts for a majority of the £550 million revenue earned by the company through sales of Boost and Horlicks in 2017.
GSK's US-based competitor Kraft Heinz is also looking to sell its consumer food business in India for up to $1 billion, or close to Rs 6,860 crore.
Heinz sells popular MFD brand Complan, which has drawn interest from companies like Emami, Wipro, Abbott, Zydus Wellness. Complan has an 8 percent share in India's MFD market.Kraft's consumer food business in India includes Complan, which is in direct competition to GSK's Horlicks and Boost.