Ceigall India Limited has entered into a definitive agreement to divest its stake in Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH), a road infrastructure project company in Punjab, to Neo Infra Income Opportunity Fund. The transaction is valued at approximately ₹177 crore, including cash surplus, and was formalized through a Share Purchase Agreement executed on June 3, 2026. This strategic asset divestment aims to unlock value and strengthen financial flexibility for future growth opportunities.

The agreement follows a binding offer letter signed earlier this year. Ceigall India and its wholly owned subsidiary, Ceigall Infra Projects Private Limited, will transfer their shareholding in CMASH to the infrastructure-focused investment fund managed by Neo Alternative Asset Managers Private Limited. The transaction is expected to be completed upon the fulfillment of customary conditions precedent outlined in the Share Purchase Agreement.

Financial Impact of Divestment

CMASH is a step-down subsidiary of Ceigall India. For the financial year ended March 31, 2026, the project company reported a turnover of ₹82.69 crore, contributing around 2.1% of Ceigall India's consolidated turnover. The net worth of the subsidiary stood at ₹136.11 crore, representing approximately 6.3% of the group's consolidated net worth.

Strategic Rationale and Compliance

Ramneek Sehgal, Chairman & Managing Director of Ceigall India Limited, stated that the transaction reflects a disciplined approach towards capital allocation and portfolio optimization. The monetization of operational infrastructure assets allows the company to recycle capital to support future growth opportunities across its infrastructure development and construction businesses.

The transaction is not a related-party transaction, and the purchaser does not belong to the promoter group of Ceigall India. The intimation was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ceigall India Limited has secured a significant contract from Punjab State Power Corporation Limited (PSPCL) for setting up 50 MW Standalone Battery Energy Storage Systems (BESS) in Punjab. The selection was made through Tariff-Based Global Competitive Bidding via E-Reverse Auction under RFS No. 61/PSPCL/1000 MWh/ELEC/ED-1861/(BESS-3), and the company received intimation of this development on May 13, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Contract Overview

The contract involves the setting up of a 50 MW Battery Storage Plant, following which Ceigall India will operate, maintain, and supply power for a period of 12 years under a long-term Battery Energy Storage Purchase Agreement (BESPA). The project cost is approximately Rs. 125 Cr, with a tariff of Rs. 2.99/KWh. The contract is domestic in nature, and neither the promoter/promoter group nor group companies hold any interest in PSPCL, nor does the transaction constitute a related party transaction.

Key Contract Details

The following table summarises the key parameters of the awarded contract as disclosed by the company:

Significant Terms and Conditions

The contract is structured as a Tariff-Based Contract Agreement. Key terms include:

• Battery Energy Storage Purchase Agreement spanning 12 years from the Schedule Commercial Operation Date
• Work execution period of 18 months
• The company is required to operate, maintain, and supply power throughout the 12-year operational period

The disclosure was made in accordance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and the information is also available on the company's website at www.ceigall.com .