Ceigall India to Acquire 100% Stake in JKJTL for ₹5 Lakh

Ceigall India Ltd announced that its Board of Directors has approved the signing of a Share Purchase Agreement to acquire 100% shares of Jam Khambhaliya Jamnagar Power Transmission Limited (JKJTL) from REC Power Development and Consultancy Limited. This acquisition is a condition for undertaking the "Common Transmission System for evacuation of power" project. The company also approved an investment by way of subscription to 49% equity in a proposed Joint Venture Company. The acquisition of JKJTL, a project SPV, will be for a cash consideration of ₹5,00,000, making it a wholly-owned subsidiary of Ceigall India Ltd post-acquisition.