Ceigall India Limited's Management Committee has announced two major corporate decisions that will reshape the company's subsidiary structure and project portfolio. The decisions were made during a committee meeting held on January 13, 2026, demonstrating the company's strategic approach to asset optimization and project expansion.

Subsidiary Stake Sale Authorization

The Management Committee has authorized the execution of a non-binding offer letter received from an Asset Management Company for the complete divestment of Ceigall Malout Abohar Sadhuwali Highways Private Limited. The proposed transaction involves the sale of 100% equity stake held in this step-down subsidiary of the company.

The proposed transaction remains subject to several conditions including completion of due diligence, negotiation and execution of definitive agreements, and receipt of requisite regulatory, statutory, lender and other approvals as applicable. The company has indicated that detailed disclosures in accordance with Regulation 30 of SEBI regulations will be submitted once definitive agreements are executed between the parties.

New SPV Incorporation Approved

Simultaneously, the Management Committee approved the incorporation of a new project Special Purpose Vehicle named "Ceigall Indore Ujjain Greenfield Highway Limited" as a subsidiary of the company. This SPV will serve as the implementation vehicle for a significant highway construction project.

Highway Project Details

The new SPV will implement a project awarded by Madhya Pradesh Road Development Corporation Limited for the construction of Indore Ujjain Greenfield highway. The project specifications include:

• Project Type: Access Control 4 lane with paved shoulder
• Length: 48.10 kilometers
• Route: Starting from Km. 0.000 near Pitra Parvat and terminating at Km. 48.100 (Simhastha bypass km 2.600)
• Implementation Mode: Hybrid Annuity Mode (HAM)

This incorporation follows the company's earlier communications, including an intimation dated January 2, 2026, regarding the SPV incorporation and December 28, 2025, regarding the project award receipt by Ceigall Infra Projects Private Limited, a wholly owned subsidiary.

Corporate Governance and Compliance

The Management Committee meeting was conducted with proper governance protocols, commencing at 10:00 AM IST and concluding at 10:40 AM IST on January 13, 2026. The company has also announced that its trading window for securities dealing is closed with effect from January 1, 2026, and will remain closed until 48 hours after the declaration of unaudited financial results for the quarter and nine months ended December 31, 2025.

These strategic decisions reflect Ceigall India's continued focus on optimizing its subsidiary portfolio while expanding its infrastructure development capabilities through new project acquisitions and dedicated SPV structures.

Ceigall India Limited's Management Committee has made significant corporate decisions regarding subsidiary restructuring and new project implementation during its meeting held on January 13, 2026.

Management Committee Decisions

The Management Committee, operating under powers conferred by the Board of Directors, addressed two major corporate actions during the meeting that commenced at 10:00 A.M. (IST) and concluded at 10:40 A.M. (IST).

Subsidiary Stake Sale Authorization

The committee authorized the execution of a non-binding offer letter received from an Asset Management Company for the sale of 100% equity stake held in Ceigall Malout Abohar Sadhuwali Highways Private Limited, a step-down subsidiary of the company. The proposed transaction remains subject to several conditions including completion of due diligence, negotiation and execution of definitive agreements, and receipt of requisite regulatory, statutory, lender and other approvals as applicable.

New SPV Incorporation Approval

The committee approved the incorporation of a new project SPV named "Ceigall Indore Ujjain Greenfield Highway Limited" as a subsidiary of the company. This SPV will serve as the implementation vehicle for a highway project previously awarded to Ceigall Infra Projects Private Limited, a wholly owned subsidiary.

Project Background

The new SPV will implement the highway project awarded by Madhya Pradesh Road Development Corporation Limited for "Construction of Indore Ujjain Green field (Access Control) 4 lane with paved shoulder project highway." The project spans 48.10 kilometers, starting from Km. 0.000 near Pitra Parvat and terminating at Km. 48.100 (Simhastha bypass km 2.600) on Hybrid Annuity Mode (HAM).

Regulatory Compliance and Trading Window

The company has informed stock exchanges that detailed disclosures under Regulation 30 of SEBI Listing Regulations will be submitted once definitive agreements are executed. Additionally, the trading window for dealing in company securities remains closed from January 1, 2026, and will remain closed until 48 hours after the declaration of unaudited financial results for the quarter and nine months ended December 31, 2025.

The decisions reflect Ceigall India's strategic approach to portfolio optimization through divestment while simultaneously expanding its project portfolio through structured SPV formations for new infrastructure developments.