Ceigall India Limited has informed the Exchange about Approved the incorporation of project SPV Ceigall Indore Ujjain Greenfield Highway Limited as subsidiary of the Company.
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Ceigall India's Management Committee approved two actions on January 13, 2026. First, the company received a non-binding offer to sell its 100% stake in Ceigall Malout Abohar Sadhuwali Highways Private Limited, a step-down subsidiary, and has authorised execution of the offer letter subject to due diligence, definitive agreements, and regulatory approvals. Second, the company approved incorporation of a new subsidiary, Ceigall Indore Ujjain Greenfield Highway Limited, as a project SPV to execute a 48.10 km 4-lane greenfield highway project on Hybrid Annuity Mode awarded by Madhya Pradesh Road Development Corporation. The new SPV will be held 74% by Ceigall India and 26% by its wholly owned subsidiary Ceigall Infra Projects, with a nominal subscription of Rs. 74,000.
The new SPV signals continued project execution and order pipeline growth for the infrastructure developer. The potential monetisation of the Malout-Abohar highway SPV, if completed, could free up capital for reinvestment, though pricing and buyer details are yet to be disclosed and the deal is non-binding at this stage.