GlaxoSmithKline plc (LSE:GSK) (GSK) is seeking initial bids by mid-September 2018 for its Horlicks Limited, which is expected to fetch more than $4 billion, two people familiar with the situation said on August 21, 2018. Potential acquirers are likely to include Nestlé India Limited (NSEI:NESTLEIND), PepsiCo India Holdings Private Limited and Reckitt Benckiser (India) Ltd., the sources said. GSK, Nestle and Reckitt declined to comment, while officials at Pepsico were not immediately available.

The timing of the bidding process was first reported by Bloomberg. The main asset on the block in the sale is GSK's 72.5% stake in GlaxoSmithKline Consumer Healthcare Limited (BSE:500676). GSK is being advised by Morgan Stanley and Greenhill.