Ceigall India Approves Security and Further Investment in Project SPV for Greenfield Highway Development
Ceigall India Limited has approved the creation of security related to a Rupee Term Loan facility and committed further investment into the Project Special Purpose Vehicle (SPV). This decision was made by the Management Committee of the Board of Directors at its meeting held on August 19, 2026.
The approvals cover two major areas: creating security for the sanctioned Term Loan facility provided to Ceigall Indore Ujjain Greenfield Highway Limited—a subsidiary and the designated Project SPV—to finance the project; and providing additional funds through equity share capital and necessary loans or guarantees as required by the funding needs of the SPV.
The investment is linked to a major infrastructure project being executed in Madhya Pradesh. The requirement for infusing funds into the Project SPV arose after Ceigall Infra Projects Private Limited (CIPPL), a Wholly-Owned Subsidiary of the Company, was selected as the Bidder by the Madhya Pradesh Road Development Corporation Limited via a Letter of Award (LOA) dated December 27, 2025. This LOA pertains to the construction of the Indore Ujjain Green field access control highway project, which spans 48.10 Km., operating under Hybrid Annuity Mode (HAM).
Details regarding the transaction and involved entities are provided below:
| Particulars | Details |
|---|---|
| Target Entity Name | Ceigall Indore Ujjain Greenfield Highway Limited (Project SPV) |
| Industry | Infrastructure Development |
| SPV Authorized & Paid-up Share Capital | 1,00,000/- (Rupees One Lakh only), divided into 10,000 equity shares of Rs. 10/- each |
| Project Duration/Completion | Acquisition will be in tranches as per the fund requirement of the Project |
| Consideration Type | Cash Consideration |
| Cost of Infusion | INR 29.44 Crores, to be infused by Ceigall India Limited along with CIPPL |
The acquisition and investment involve a shared equityholding structure between the two entities. Ceigall India Limited will hold 74% of the shares, while CIPPL holds 26%.
Key details regarding the acquired entity, Ceigall Indore Ujjain Greenfield Highway Limited, include:
| Background Details | Information |
|---|---|
| Line of Business | Infrastructure Development |
| Date of Incorporation | January 15, 2026 |
| Turnover (FY ended March 2026) | Rs. 0.40 Lakhs |
The project is located in India and requires no governmental or regulatory approvals for the acquisition stage. The investment comes as part of the overall strategy to implement the designated highway construction project.
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