Subsidiary23 Apr 2026, 05:41 pm
Ceigall India to Incorporate SPV for 10.3 Km NHAI Project
AI Summary
Ceigall India Limited's Management Committee approved the incorporation of 'Ceigall Ambala Chandigarh Zirakpur Limited' as a step-down subsidiary on April 23, 2026. This Special Purpose Vehicle (SPV) will implement the 6-lane access-controlled Spur connectivity project awarded by NHAI to Ceigall Infra Projects Private Limited, a wholly-owned subsidiary. The project, spanning 10.300 Km from the Ambala – Chandigarh section of NH-205A to Zirakpur Bypass, will be executed on a Hybrid Annuity Mode. The initial subscription cost for the SPV is ₹26,000, with Ceigall India Limited holding 26%.
Key Highlights
- Management Committee approved SPV incorporation on April 23, 2026.
- New SPV, "Ceigall Ambala Chandigarh Zirakpur Limited," is a step-down subsidiary.
- SPV to execute 10.3 km NHAI project on Hybrid Annuity Mode.
- Initial subscription cost for the SPV is ₹26,000.
- Ceigall India Limited will hold 26% in the new SPV.