Govt Extends CEL Bid Deadline to 1 Month in the middle of Covid-19

• On the back of continuous circumstance as a result of the Covid-19 break out in the nation, the Government of India (GoI) has actually expanded the due date for sending bids for its solar items producing system Central Electronics Ltd (CEL) by a month.

Previously in the month of February, the Department of Investment and also Public Asset Management (DIPAM) provided an Expression of Interest (EoI) welcoming worldwide bids for the sale of federal government's whole 100 percent risk in CEL.

CEL is a Government of India Enterprise under the Department of Scientific and also Industrial Research (DSIR), Ministry of Science & Technology.

Currently, the last day for sending proposals has actually been encompassed April 16, 2020, from its previous day of March 16, 2020, by DIPAM mentioning "circumstance pertaining to COVID-19".

CEL is India's earliest monocrystalline cell producer having an ability of 10 MW p.a. The firm is additionally having a top quality module production line with a mounted capability of 38 MW, i.e. 10 MW in hand-operated line and also 28 MW in an automatic line.

It's paid-up funding is Rs 69.22 crore as well as total assets is Rs 75.99 crore as on March 31, 2019.

According to the Preliminary Information Memorandum (PIM), the picked prospective buyer will certainly be needed to secure its shares for a duration of 3 years throughout which it can not embark on the sale of its risk in CEL.

For the qualification standard, the interested prospective buyers have to have a minimal total assets of Rs 50 crore and also will remain in presence for at the very least 3 fiscal years as on March 31, 2019.

In the SWOT evaluation of CEL, DIPAM has actually stated under weak point that "CEL has weak monetary setting because of previous losses; high production price; as well as non-payment of fees by state nodal firms impacting the monetary placement of the business".

Better, in hazards, DIPM mentioned that "disposing of Solar cells at really reduced prices make Solar photovoltaic (PV) production sector unviable; and also access of brand-new gamers out there for solar items along with Railway signalling systems".

At the same time, on the toughness, it mentioned that "the business is having an ample land for growth; NCR location-proximity to New Delhi; experience in the advancement of tailor-making solar remedies; proficiency in layout, growth and also supply of calculated gadgets and also parts; worldwide accredited top quality items; and also seasoned and also skilled workforce".