CEL is seen as a pioneer in the field of Solar Photovoltaic (SPV) in India. It has also been credited with developing India’s first solar cell in 1977 and first solar panel in 1978
The government of India is selling its stake in the state-run Central Electronics Limited (CEL). It has also received financial bids for the same last Tuesday.
“Financial bids for strategic disinvestment of Central Electronics Ltd (CEL) received by Transaction Adviser. The process now moves to concluding stage,” tweeted Department of Investment and Public Asset Management (DIPAM) secretary, Tuhin Kanta Pandey.
The Preliminary Information Memorandum (PIM) of CEL released by DIPAM states that interested bidders must have a minimum net worth of Rs 50 crore as on March 2019. The bids are open to the employees of CEL as well. Resurgent India Limited was appointed the advisor for the transaction.
CEL is seen as a pioneer in the field of Solar Photovoltaic (SPV) in India. It has also been credited with developing India’s first solar cell in 1977 and first solar panel in 1978. CEL was also responsible for commissioning India’s first solar plant in 1992.
