Ceigall India Approves Subsidiary Investment & Security Creation

Ceigall India Limited's Management Committee has approved the creation of security for a Rupee Term Loan facility for its subsidiary, Ceigall Indore Ujjain Greenfield Highway Limited (Project SPV). Additionally, the company will further invest in the Project SPV through equity and provide loans and securities as needed. This investment is crucial for financing the "Construction of Indore Ujjain Green field (Access Control) 4 lane with paved shoulder project highway" awarded to Ceigall Infra Projects Private Limited, a wholly-owned subsidiary. The total cash consideration for equity infusion is INR 29.44 Crores, with Ceigall India holding 74% and CIPPL holding 26% of the Project SPV.