According to sources, the bids are not up to P&G's expectation. In such a case, P&G would have to either scale down the minimum bid price or the deal falls through.

P&G India in reply to the above query said: "Till an outcome has been reached we do not wish to make any comment." The company reiterated that the brand is up for sale.

Among the companies that are understood to be vying for the brand are Marico Industries, the makers of Parachute, and Johnson & Johnson.

While there are no indications on the minimum bid price for Mediker, industry observers feel that the company will be looking at selling the brand at a valuation multiple of 1.5-2 times its annual turnover.

Mediker's annual sales contribution is close to Rs 7 crore. The decision to sell Mediker stems from the parent's move to withdraw from this segmentinternationally. The brand, which was launched in the country a decade back, has been sold off in most of the international markets.

Besides Mediker, P&G has also put two of its other brands -- Ezee and Trilo -- on the block. The decision was taken early this year and ING Bearings has been roped in to find a buyer. On Ezee and Trilo, it is yet not known as to which company is keen on taking over the brands.

Godrej Soaps, to which the brands originally belonged, has shown disinterest in acquiring Ezee and Trilo, even though it makes sense for the company to takeover Ezee. The two brands were acquired by P&G during its alliance with the Godrej group in 1993. Reckitt & Colman too is not in the race to acquire the brands.

P&G's move to divest from non-core businesses stems from an internal study which stated that the growth potential for its Ariel brand was high and therefore the company plans to channel its energy in promoting the brand.

Besides, it is also investing in its other leading healthcareand feminine hygiene care brands, Vicks and Whisper. The company has chalked out four core areas of growth: healthcare, laundry, haircare and feminine hygiene care.