Govt receives financial bids for stake in Central Electronics

After Air India, the stage is set for strategic sale of state-run Central Electronics Ltd (CEL). The government on Tuesday received financial bids for its stake in the entity. CEL is a 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.

Department of Investment and Public Asset Management (DIPAM) secretary, Tuhin Kanta Pandey tweeted, “Financial bids for strategic disinvestment of Central Electronics Ltd (CEL) received by Transaction Adviser. The process now moves to concluding stage.”