Ceigall India Limited has informed the Exchange about Acquisition
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Ceigall India Limited has acquired 100% equity shares of Velgaon Power Transmission Limited (VPTL) from REC Power Development and Consultancy Limited for a cash consideration of ₹1.88 crore. After the deal, VPTL has become a wholly owned subsidiary of Ceigall. The acquisition was a mandatory step tied to Ceigall's Letter of Intent (dated 23 November 2025) for setting up a 400/220 kV Velgaon Substation (GIS) under the Tariff Based Competitive Bidding (TBCB) process. VPTL was incorporated only in March 2025, has a paid-up capital of just ₹5 lakh, and currently has nil turnover, as it was a special purpose vehicle created for the project. The transaction is not a related-party deal and required no separate government or regulatory approvals.
This is a routine, project-linked acquisition rather than a large strategic buyout, so near-term financial impact is minimal given the small ₹1.88 crore outlay. However, it formally gives Ceigall a dedicated subsidiary vehicle to execute the Velgaon substation TBCB project, which could support future order book and revenue from the power transmission segment.