The government has made its mind to privatise Central Electronics Limited, after Air India and BPCL. Government has decided to sell its 100% stake with management control and has invited the interested for the same latest by 16th of March.
“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.
Challenging target of Rs 2.1 lakh crore has been decided by the government. After revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore, disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for Sales) in the next fiscal year is going full of energy and force to meet the target.
The minimum net worth of the interested Bidders has been decided minimum of Rs 50 crore as on March 2019. Complete invitation Preliminary Information Memorandum has been released by the DIPAM. Transaction advisory is taken care by Resurgent India Limited.
In the field of Solar Photovoltaic, CEL is a pioneer in the country having distinction of developed India’s first solar cell in the year 1977 and first solar panel in 1978 as well as commissioning India’s first solar panel in 1992.
First crystalline flexible solar panel has been developed and manufactured recently which can be specially used on the passenger train roofs in the year 2015.
DIPAM has stated under weakness in the SWOT analysis of CPSE that ‘company’s past losses are followed by weak financial loss, financial position of the company is being affected due to high manufacturing cost and non payment of dues by state nodal agencies’.
The SWOT analysis added that the CPSE has adequate land for expansion. Dumping of solar cells at very low rates is going to turn solar PV manufacturing industry viable.
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