Joint Venture13 Jan 2026, 10:49 am
Ceigall India Ltd Authorises Sale of Subsidiary & Incorporates New SPV
AI Summary
Ceigall India Ltd has authorised the execution of a non-binding offer letter from an Asset Management Company for the sale of 100% equity stake in its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited. The proposed transaction is subject to completion of due diligence, negotiation and execution of definitive agreements, and receipt of necessary approvals. The company also approved the incorporation of a new project SPV, 'Ceigall Indore Ujjain Greenfield Highway Limited', which will be a subsidiary of the company.
Key Highlights
- Ceigall India Ltd has authorised the sale of its 100% equity stake in Ceigall Malout Abohar Sadhuwali Highways Private Limited to an Asset Management Company.
- The proposed transaction is subject to completion of due diligence, negotiation and execution of definitive agreements, and receipt of necessary approvals.
- Ceigall India Ltd has approved the incorporation of a new project SPV, 'Ceigall Indore Ujjain Greenfield Highway Limited', which will be a subsidiary of the company.
- The new SPV is formed to implement the project awarded by Madhya Pradesh Road Development Corporation Limited for the construction of a 4-lane highway.
- The trading window for dealing in the securities of the Company is closed till 48 hours after the declaration of the unaudited financial results of the Company for the quarter and nine months ended December 31, 2025.