Ceigall India Ltd to Invest in SPVs for Infrastructure Construction Projects

Ceigall India Ltd has announced its decision to invest in the share capital of two Special Purpose Vehicles (SPVs), namely Ceigall Northern Ayodhya Bypass Private Limited and Ceigall Ayodhya Bypass Private Limited. The investment is aimed at financing the project of the SPVs, which involve the construction of 4/6 Lane Northern and Southern Ayodhya Bypass on Hybrid Annuity Mode (HAM) basis under NHDP Phase-VII in the state of Uttar Pradesh. The investment is not a related party transaction and no promoter/promoter group/group companies have any interest in the entities being acquired. The cost of acquisition for each SPV is up to INR 31.48 Crore and INR 34.25 Crore respectively.