Announcement under regulation 30 of LODR, 2015 for Scheme of Arrangement.
Awaiting price reaction for this filing.
C & C Constructions Ltd, which was under liquidation, is set to be revived through a merger with Ceigall Infra Projects Pvt Ltd (CIPPL), a wholly owned subsidiary of Ceigall India Ltd. R K Constructions, the successful bidder per the December 2024 sale certificate, filed an application with the NCLT New Delhi on May 27, 2025, seeking approval for the scheme of amalgamation. CIPPL had a turnover of Rs. 1,149.55 million and net worth of Rs. 637.92 million as of March 31, 2025. CIPPL has extended an inter-corporate deposit of up to Rs. 50 crore to CCCL, which will be converted into equity upon merger approval. Post-merger, Ceigall India Ltd will initially hold up to 95% of CCCL, then dilute to 75% in line with SEBI Regulations, with existing CCCL shareholders retaining 5%. The deal is not a related-party transaction.
This is a significant revival event for C & C Constructions, which was under liquidation. Shareholders will be heavily diluted to just 5%, with Ceigall India gaining controlling stake at 75%. The listed entity effectively changes hands to Ceigall India Ltd, which could dramatically alter the stock's business profile and risk-reward for existing retail holders.