The Centre has approved a 100% strategic sale along with transfer of management control of Central Electronics Ltd (CEL). Incorporated in 1974, CEL is under the administrative control of Ministry of Science and Technology.
The CPSE is wholly owned by the government and has a net worth of ₹50.34 crore as on March 2017. “The Government of India (GoI) has ‘in-principle’ decided to disinvest its 100 per cent equity in Central Electronics Ltd through strategic sale with transfer of management control,” the Department of Investment and Public Asset Management said a bid document. The government plans to engage an advisor from a consulting firm, investment banker or a merchant banker or a financial institution, for providing advisory services and managing the disinvestment process. It is also looking to appoint a legal firm for advising on the strategic sale.