Ceigall India Limited has incorporated a project Special Purpose Vehicle (SPV) to execute a major highway construction project in Punjab. The Management Committee of the Board of Directors approved the incorporation of Ceigall Ambala Chandigarh Zirakpur Limited as a step-down subsidiary during its meeting held on April 23, 2026.

Project Background and Scope

The SPV has been established to implement a project previously awarded to Ceigall Infra Projects Private Limited, a wholly owned subsidiary of the company. The National Highways Authority of India awarded the contract for construction of a 6-lane access-controlled spur connectivity starting from Ch. 15+100 of Ambala – Chandigarh section of NH-205A and terminating at Ch. 2+500 of Zirakpur Bypass. The project spans a total length of 10.300 Km under NH(O) in the State of Punjab and will be executed on Hybrid Annuity Mode.

Corporate Structure and Investment Details

The newly incorporated entity will operate as a step-down subsidiary of Ceigall India Limited, focusing specifically on infrastructure development. The company has structured the investment through cash consideration, with detailed shareholding arrangements established for the project execution.

Regulatory Compliance and Approvals

The incorporation was approved pursuant to Regulation 30 of SEBI (LODR) Regulations, 2025, with the Management Committee exercising powers conferred by the Board of Directors. The company has confirmed that no additional governmental or regulatory approvals are required for this incorporation. The decision continues the company's earlier intimation dated March 27, 2026, regarding the project award.

Meeting Details and Timeline

The Management Committee meeting commenced at 04:30 P.M. (IST) and concluded at 05:05 P.M. (IST) on April 23, 2026. The company has uploaded the relevant information on its website www.ceigall.com and informed both BSE Limited and National Stock Exchange of India Limited about this corporate development as per regulatory requirements.

Ceigall India Limited has officially confirmed to stock exchanges that it does not qualify as a Large Corporate under SEBI regulations as on March 31, 2026. The company made this disclosure to comply with regulatory requirements regarding fund raising through debt securities by large corporates.

Regulatory Compliance Confirmation

The company's notification references two key SEBI circulars that govern large corporate classifications and disclosure requirements. These regulations establish specific criteria for determining Large Corporate status and mandate certain compliance obligations for companies that fall under this category.

Disclosure Exemption Impact

Since Ceigall India Limited does not meet the Large Corporate criteria as defined under para 3.2 of the SEBI circular, the company is exempt from several regulatory filing requirements. This exemption specifically covers the initial disclosure and annual disclosure requirements outlined in the regulatory framework.

Corporate Communication

The formal notification was addressed to both major Indian stock exchanges where the company's shares are listed. The communication ensures transparency and keeps regulatory authorities informed about the company's compliance status.

Authorized Signatories

The regulatory notification bears the signatures of two key company officials, ensuring proper authorization and compliance with corporate governance requirements. Company Secretary Megha Kainth (Membership No. F7639) and Chief Financial Officer Kapil Aggarwal (PAN: AJCPA2325H) jointly signed the document, providing the necessary corporate authorization for this regulatory communication.

This confirmation helps maintain regulatory transparency and ensures that stakeholders are aware of the company's current status regarding SEBI's Large Corporate classification criteria.