Govt sells Central Electronics to Nandal Finance and Leasing for Rs 210 cr

The government on 29th November approved the sale of Central Electronics Ltd to Nandal Finance and Leasing for Rs 210 crore. This is the second strategic stake sale by the government after Air India. The Alternative Mechanism has approved the highest price bid of M/s Nandal Finance and Leasing Pvt Ltd for sale of 100% equity shareholding of GoI in Central Electronics Ltd (CEL) - a CPSE under the Department of Scientific and Industrial Research (DSIR). Two bidders had put in financial bids for CEL -- Nandal Finance and Leasing Pvt Ltd for Rs 210 crore and JPM Industries Ltd bid for Rs 190 crore.

Source: The Economic Times