The government has cleared the sale of its entire 100 percent stake in Central Electronics Limited (CEL), to Nandal Finance and Leasing Private Limited
After Air India, this is the government's second strategic share sale this year.
Central Electronics Limited is a government-owned company that falls under the Ministry of Science and Technology's Department of Scientific and Industrial Research (DSIR). It was founded in 1974 with the goal of commercialising indigenous technologies generated by the country's national laboratories and research and development institutions.
Through its own R&D efforts and close collaboration with leading national and international laboratories, including defence laboratories, CEL has developed a number of goods for the first time in the country. It is considered as a pioneer in the country in the field of Solar Photovoltaic (SPV) and it has developed the technology with its own R&D. It has also developed axle counter systems that are being used in Railway signaling systems for the safe running of trains. Railway products include Single Section Digital Axle Counters (SSDAC), High Availability SSDAC (HA-SSDAC), Multi-section Digital Axle Counter (MSDAC) & Block Proving by Axle Counter (BPAC) using Universal Fail-Safe Block Interface (UFSBI).
"The Alternative Mechanism has approved M/s Nandal Finance and Leasing Pvt Ltd.'s highest price bid for the sale of the Government of India's 100 percent equity investment in Central Electronics Ltd (CEL), a CPSE under the Department of Scientific and Industrial Research (DSIR). The winning bid is Rs 210,600,000 in rupees "a statement from the government said
Road Transport Minister Nitin Gadkari, Finance Minister Nirmala Sitharaman, and Minister of State for Science and Technology Jitendra Singh make up the Alternative Mechanism (AM) on strategic disinvestment.