Ceigall India Limited has announced a significant step in its infrastructure portfolio with the approval of a multi-crore investment in its subsidiary, Ceigall Indore Ujjain Greenfield Highway Limited.
According to a regulatory filing on the BSE, the company’s Management Committee of the Board of Directors met on August 19, 2026, to greenlight further capital infusion and the creation of security for project financing.
The investment is directed toward a project special purpose vehicle (Project SPV) created for the construction of the Indore Ujjain Greenfield (Access Control) 4-lane project highway. The 48.10 km stretch, which starts near Pitra Parvat and terminates at the Simhastha bypass, is being developed under the Hybrid Annuity Mode (HAM).
Key financial highlights from the BSE filing include:
- Total Equity Infusion: Ceigall India, along with its wholly-owned subsidiary Ceigall Infra Projects Private Limited (CIPPL), will infuse ₹29.44 Crores in equity share capital into the SPV.
- Shareholding Structure: Ceigall India Limited will maintain a 74% stake, while CIPPL will hold the remaining 26%.
- Funding Timeline: The acquisition of shares will be completed in tranches according to the specific fund requirements of the highway project.
In addition to the equity infusion, the Management Committee approved the creation of security related to a Rupee Term Loan facility sanctioned to the Project SPV. The board has also authorized providing loans, securities, and guarantees to the SPV as necessary to meet project implementation demands.
The project was originally awarded to Ceigall Infra Projects Private Limited by the Madhya Pradesh Road Development Corporation Limited via a Letter of Award dated December 27, 2025. The Project SPV, Ceigall Indore Ujjain Greenfield Highway Limited, was subsequently incorporated on January 15, 2026, specifically to execute this infrastructure development.
The meeting of the Management Committee commenced at 11:45 A.M. and concluded at 12:05 P.M. on August 19, 2026, marking a swift finalization of these funding arrangements.
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