New Delhi: The Govt is set to privatise Central Electronics Limited (CEL), a Central Public Sector Enterprises (CPSE) under the Department of Science and Technology, by selling its 100 per cent stake with management control and has invited the Expression of Interest for the same by March 16.
The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.
“The government of India has ‘in-principle’ decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid-up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction),” DIPAM, the Disinvestment Department, said.
