M&A
Govt sells Central Electronics to Nandal Finance & Leasing for Rs.210-Cr
The Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment of Sahibabad (UP)-based Central Electronics Ltd, a central public sector enterprise (CPSE). The winner of the bid for 100% equity in the company was Ghaziabad-based Nandal Finance and Leasing, which had offered over INR 210 crore against the reserve price of INR 194 crore. This is the second attempt at selling CEL after the process in 2016 did not attract any financial bid. CEL was established in 1974 to commercially exploit indigenous technologies developed by National Laboratories and R&D institutions. It has developed a number of products on its own as well as in association with the premier national and international laboratories, including Defence outfits.
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