Government clears 100% strategic sale of CEL
August 30th, 2017
The Union Government (Department of Investment and Public Asset Management) has approved a 100% disinvestment through strategic sale along with transfer of management control of Central Electronics Ltd. (CEL). CEL was incorporated as CPSE in 1974 under the administrative control of Ministry of Science and Technology. It is wholly owned by the government and has a net worth of Rs. 50.34 crore as on March 2017. The government is planning to engage an advisor from a consulting firm, investment banker or financial institution or merchant banker for providing advisory services and managing the disinvestment process.