Ceigall India Limited has informed the Exchange regarding Outcome of Board Meeting held on May 15, 2025.In continuation of our letter dated May 08, 2025 and May 12, 2025 in terms ofRegulation 29 & 30 of Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations, 2015 [SEBI (LODR)], please be informedthat the Board of Directors of the Company at its meeting held today i.e., May 15,2025, have approved the proposed Scheme of Arrangements and themerger/amalgamation of Ceigall Infra Projects Private Limited (a wholly ownedsubsidiary company of Ceigall India Limited) with C & C Construction Limited,pursuant to Sections 230 to 232 of the Companies Act, 2013 and Section 60(5) of theInsolvency and Bankruptcy Code, 2016.
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On May 15, 2025, the board of Ceigall India approved a Scheme of Arrangement to merge its wholly-owned subsidiary Ceigall Infra Projects Private Limited (CIPPL) with C & C Construction Limited (CCCL), a listed entity currently under liquidation that would be revived through this scheme. CIPPL reported a turnover of Rs. 114.96 crore and net worth of Rs. 63.79 crore as on March 31, 2025. Post-merger, Ceigall India is expected to initially hold up to 95% in CCCL, eventually reducing to 75% to comply with SEBI and IBC norms. CIPPL had also proposed an inter-corporate deposit of up to Rs. 50 crore to CCCL, with an option to convert it into equity. The scheme is now subject to NCLT Delhi Bench approval and other regulatory clearances.
This is a positive restructuring move — it revives a listed infrastructure company (CCCL) under Ceigall's umbrella, expands its business into transmission, bridges, railways, and buildings, and should drive operational synergies. Shareholders may see expanded business scope, though dilution from the public shareholding in CCCL will follow.