Crompton Greaves announced Thursday the board of directors received non-binding proposals from reputed international entities with significant interest in industrial and power sectors, for acquiring the European, North America and Indonesian activities of the power segment division of CGL.

Separately, it has received firm offers for the Canadian Power and the American Transportation Automation businesses.

"These proposals constitute firm indications of interest but are subject to due diligence, negotiation and execution of definitive agreements. There are in line with the board's strategic intent of focusing on its profitable India businesses and global automation business," the company said.

The board has reviewed the offers and has authorized a committee of directors to take the appropriate next steps. "There can be no assurance that any definitive offer will be made that any agreement will be executed or that these offers will be approved or consummated," it cautioned.

Shares of the company gained Rs 0.5, or 0.3%, to trade at Rs 166.35. The total volume of shares traded was 1,223,323 at the BSE (1.58 p.m., Friday).