 "Govt gets financial bids for Central Electronics after Air India deal")
Following the successful completion of the Air India sale, the government has now received financial bids for strategic divestment of Central Electronics Ltd, taking the privatisation process of the public sector undertaking (PSU) to the concluding stage.
Financial bids for strategic disinvestment of Central Electronics Ltd (CEL) were received by Transaction Adviser, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet.
The government is looking to disinvest its 100 per cent shareholding in the PSU under the administrative control of the Ministry of Science and Technology. The criteria for the interested buyer of CEL was to have a minimum net worth of Rs 50 crore as on March 31, 2019. The buyer 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.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%