Govt invites bids for sale of 100% stake in Central Electronics

THE government has invited bids for sale of 100 per cent stake in Central Electronics Ltd (CEL). The Department of Investment and Public Asset Management (DIPAM) has invited Expression of Interest (EoI) from bidders having minimum net worth of Rs 50 crore as on March 31, 2018.
The last date for submission of bids is October 21, as per the EoI floated by the DIPAM.
The government had last year cleared a proposal for 100 per cent stake sale...
in CEL through strategic sale with transfer of management control.
Incorporated in 1974, CEL is under the administrative control of Ministry of Science and Technology. The CPSE is wholly owned by the government and had a net worth of Rs 50.34 crore as on March 2017.
The government has budgeted to raise Rs 80,000 crore in 2018-19 from minority stake sale in CPSEs and strategic sale. So far this fiscal, over Rs 9,220 crore has been raised by divesting stake in state-run companies.
Central Electronics Limited is a Govt. of India Enterprise under Department of Scientific & Industrial Research (DSIR), Ministry of Science & Technology. It was established in 1974 with an objective to commercially exploit the indigenous technologies developed by National Laboratories and R&D Institutions in the country. CEL has developed a number of products for the first time in the country through its own R&D efforts and in close association with the premier National & International Laboratories including Defence Laboratories.
Resurgent India Limited has been retained as the advisor by the Government of India for advising and managing the proposed strategic disinvestment of the PSU. The Preliminary Information Memorandum (PIM) has been prepared by Resurgent for the limited purposes of providing certain information on CEL for enabling the recipients to be apprised of such certain basic details of CEL prior to submission of the Expression of Interest in respect of the Transaction.
CEL was established in 1974 with an objective to commercially exploit indigenous technologies developed by National Laboratories and Research &Development institutions in the country.
The Government of India has ‘in-principle’ decided to disinvest 100% of its equity shareholding in CEL (which is equivalent to 100.00 % of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control.
The complete invitation of EOI document along with Preliminary Information Memorandum (“PIM”)
can be viewed / downloaded from following websites:
www.resurgentindia.com;
www.dipam.gov.in;
www.dsir.gov.in;
CEL has developed a number of products for the first time in the country through its own R&D efforts and in close association with the premier National & International Laboratories including Defense Laboratories. In recognition of all these efforts, CEL has been awarded a number of times with prestigious awards including “National Award for R&D by DSIR”.
CEL is pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India’s first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India’s first solar plant in 1992. More recently, it has developed and manufactured the first crystalline flexible solar panel specially for use on the passenger train roofs in 2015.