Ceigall Sells Highways Project Subsidiary in Share Purchase Agreement to Neo Infra Fund
Ceigall India Limited has entered into a Share Purchase Agreement with Neo Infra Income Opportunity Fund for the subsidiary that holds stakes in the highway infrastructure project. The sale involves Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH), which is managed by subsidiaries of Ceigall India Ltd.The sellers, comprising Ceigall India Limited and its wholly-owned subsidiary Ceigall Infra Projects Private Limited, executed the Share Purchase Agreement on June 3, 2026. The purchaser in this transaction is Neo Infra Income Opportunity Fund, managed by Neo Alternative Asset Managers Private Limited.
The project company, CMASH, reported specific operational metrics for the financial year ended March 31, 2026. This included a turnover of Rs. 826.89 Million and a net worth of Rs. 1361.14 Million. These figures represented 2.10% of the consolidated turnover and 6.30% of the consolidated net worth of the company, respectively.
Key details regarding the transaction are presented below:
| Metric | Value |
|---|---|
| Date of Binding Offer Letter | February 9, 2026 |
| Share Purchase Agreement Date | June 3, 2026 |
| Expected Completion of Sale | Soon after satisfaction of conditions set out in the SPA |
| Consideration Received (Total) | Rs. 177 crores (subject to adjustments) |
The transaction was confirmed as a non-Related Party Transaction.
The sale is expected to be completed soon, following the fulfillment of all conditions stipulated in the Share Purchase Agreement dated June 3, 2026.
CEIGALL Stock Price Movement
As of 1:44 PM, shares of Ceigall India Limited are slipping by 1.86% in live trading after shedding ₹6.70, currently priced at ₹353.90. The stock has seen a substantial intraday volume of 294,058 shares as traders watch its performance.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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