Ceigall India Ltd

Ceigall India Limited has entered into a definitive agreement to divest its stake in Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH), a road infrastructure project company in Punjab, to Neo Infra Income Opportunity Fund. The transaction, formalized through a Share Purchase Agreement (SPA) on June 3, 2026, is valued at approximately ₹177 crore. CMASH, a step-down subsidiary, reported a turnover of ₹82.69 crore and a net worth of ₹136.11 crore for FY26. This divestment aligns with Ceigall India's strategy of monetizing operational assets to recycle capital for future growth opportunities. The transaction is not a related-party transaction and is expected to be completed upon fulfillment of customary conditions precedent.

Ceigall India Ltd announced the sale of its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH), through its wholly-owned subsidiary Ceigall Infra Projects Private Limited. The Share Purchase Agreement (SPA) was executed on June 3, 2026, with Neo Infra Income Opportunity Fund. CMASH contributed 2.10% to the consolidated turnover and 6.30% to the consolidated net worth for the financial year ended March 31, 2026. The total consideration for the sale is ₹177 crores, subject to adjustments. The transaction is not a related party transaction and does not fall within a scheme of arrangement.

Ceigall India Ltd's subsidiary, Ceigall Ayodhya Bypass Private Limited, has achieved 35% physical progress on the Southern Ayodhya Bypass project as of May 7, 2026. This milestone, verified by the Independent Engineer (IE) on May 12, 2026, was reached 92 days ahead of schedule. The project involves the construction of a 4/6 lane bypass spanning 32.172 km in Uttar Pradesh.

Ceigall India Limited (CIL) has been selected by Punjab State Power Corporation Limited (PSPCL) to set up a 50 MW Standalone Battery Energy Storage System (BESS) in Punjab. The project was awarded through tariff-based global competitive bidding. The project cost is approximately ₹125 Cr and the tariff is set at ₹2.99/KWh. The contract includes an 18-month work execution period and a 12-year operational period under a Battery Energy Storage Purchase Agreement (BESPA).

Ceigall India Limited (CIL) has been selected by Punjab State Power Corporation Limited (PSPCL) to set up a 100 MW Standalone Battery Energy Storage System (BESS) in Punjab. The selection was made through tariff-based global competitive bidding. The project involves setting up a 100 MW battery storage plant and operating it for 12 years under a Battery Energy Storage Purchase Agreement (BESPA). The tariff is ₹3,44,000/MW/Month and the project cost is approximately ₹250 Cr.

Ceigall India Ltd has disclosed the names and contact details of Key Managerial Personnel (KMP) authorized by the Board for determining the materiality of events or information and for making requisite disclosures to the Stock Exchanges as per Regulation 30 of the SEBI Listing Regulations. The authorized KMPs include Ayyalusamy Saravanan (CEO), Kapil Aggarwal (CFO), Megha Kainth (Company Secretary & Compliance Officer), and Akshay Jain (Vice President - Strategy & Planning).

Ceigall India Ltd has released the Monitoring Agency Report issued by ICRA Limited for the quarter and year ended March 31, 2026, regarding the utilization of IPO proceeds. The report indicates no material deviation from the stated objectives of the IPO. The Audit Committee reviewed the report on May 6, 2026. The IPO issue size was ₹1252.663 Crore with an offer for sale portion and ₹684.252 Crore excluding the offer for sale portion.

Ceigall India Ltd's Board of Directors approved the appointment of M/s Grant Thornton Bharat LLP as the Internal Auditor and M/s Khushwinder Kumar & Associates as the Cost Auditor for the financial year 2026-27, subject to shareholder ratification. The board also approved the audited financial results for the year ended March 31, 2026, and recommended a dividend of 10% (₹0.50 per share). Additionally, the board approved the appointment and reappointment of several Non-Executive Independent Directors and accepted the resignation of Mr. Chitwon Wason as Whole-Time Director.

Ceigall India Ltd's board approved the appointment of Mr. Ankit Kumar Agrawal as a Non-Executive Independent Director for a five-year term starting July 1, 2026, and re-appointed Mr. Vishal Anand and Mrs. Gurpreet Kaur as Non-Executive Independent Directors for second terms of five years effective October 26, 2026. The board also approved a dividend of ₹0.50 per equity share (10%) for FY 2025-26, subject to shareholder approval. Mr. Chitwon Wason resigned as Whole-Time Director, effective May 20, 2026. Additionally, M/s Grant Thornton Bharat LLP and M/s Khushwinder Kumar & Associates were appointed as Internal Auditor and Cost Auditor, respectively, for FY 2026-27.

Ceigall India Ltd announced the resignation of Mr. Chitwon Wason as Whole-Time Director, effective May 20, 2026. The board also approved audited financial results for the year ended March 31, 2026, declared a dividend of 10% (₹0.50 per share), and appointed/re-appointed several directors, including Ankit Kumar Agrawal, Vishal Anand, and Gurpreet Kaur as Non-Executive Independent Directors. Additionally, M/s Grant Thornton Bharat LLP and M/s Khushwinder Kumar & Associates were appointed as Internal Auditor and Cost Auditor, respectively.