Ceigall India Limited has sold 100% equity shares of its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited, to Neo Infra Income Opportunities Fund for Rs 182.20 crore. The sale was concluded on June 16, 2026, pursuant to a Share Purchase Agreement dated June 3, 2026, and a First Amendment to Share Purchase Agreement executed on June 16, 2026. Consequently, the subsidiary ceased to be a step-down subsidiary of the company effective June 16, 2026.

The transaction involved the transfer of shares held by Ceigall India Limited together with Ceigall Infra Projects Private Limited, a wholly owned subsidiary. The consideration received includes cash surplus amounting to Rs 182.20 crores. The buyer, Neo Infra Income Opportunities Fund, is managed by Neo Alternative Asset Managers Private Limited and is not part of the promoter or promoter group.

For the financial year ended March 31, 2026, the divested entity reported a turnover of Rs. 826.89 Millions, which accounted for 2.10% of the consolidated turnover of Ceigall India Limited. The net worth of the subsidiary stood at Rs. 1361.14 Million, representing 6.30% of the consolidated net worth of the company.

The agreements formalizing the sale include a Binding Offer Letter dated February 9, 2026, the Share Purchase Agreement dated June 3, 2026, and the Amendment Agreement dated June 16, 2026. The company confirmed that the transaction does not constitute a related party transaction and was conducted at arm's length.

Financial Details of Subsidiary

Transaction Timeline

Ceigall India Limited will engage with analysts and institutional investors during a physical meeting scheduled in Mumbai on June 22 and June 23, 2026. The company stated that no unpublished price sensitive information will be shared during these interactions.

The meeting is being conducted pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015. Officials from the company will interact with market participants in one-on-one and group settings.

The schedule for the meeting is detailed below:

Ceigall India noted that the dates are subject to change due to exigencies on the part of the company or the investors and analysts. The intimation was signed by Company Secretary Megha Kainth on June 17, 2026.