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Shares of Ceigall India Ltd rose 1.21% today, following the company’s announcement that it has been declared the lowest bidder for a major solar energy project in Madhya Pradesh.
The stock reacted after BSE updates on Saturday, with trading resuming on the next business day.
The project, valued at an approximate total of ₹1,700 crores including GST, has generated positive sentiment among investors.
The company informed the stock exchanges that it has emerged as the Lowest (L-1) Bidder in an auction for the “Establishment of a Grid-Connected Ground-Mounted Solar Photovoltaic (PV) Project with Battery Energy Storage Systems (BESS) at Morena Solar Park, Madhya Pradesh”.
The contract was awarded by Rewa Ultra Mega Solar Limited, a domestic entity.
Ceigall India secured the project through a tariff-based competitive bidding process, which included an electronic reverse auction held on 19 September 2025. The company quoted a competitive tariff of ₹2.70 per kilowatt-hour (kWh).
Following this successful bid, Ceigall has been awarded a capacity of 220 MW out of the total 440 MW project capacity tendered.
The project has a set timeline, with a construction period of 24 months, followed by an operational period of 25 years, ensuring a long-term revenue stream for the company.
Ceigall India also confirmed that its promoters or group companies have no interest in Rewa Ultra Mega Solar Limited and that the contract does not fall under related party transactions.
The official filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
The disclosure was signed for Ceigall India Limited by Megha Kainth, Company Secretary & Compliance officer.
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