Ceigall India has announced the establishment of a fully owned subsidiary company to spearhead the development of 130 MW solar power projects in Madhya Pradesh. This strategic corporate restructuring marks a significant step in the company's expansion into renewable energy infrastructure.

Strategic Subsidiary Formation

The creation of this wholly owned subsidiary represents a focused approach to managing and executing solar power projects. The subsidiary structure will provide dedicated resources and specialized management for the renewable energy initiatives in Madhya Pradesh.

Renewable Energy Expansion

This development demonstrates Ceigall India's strategic diversification into the renewable energy sector. The 130 MW solar capacity represents a substantial addition to the company's project portfolio and aligns with the growing demand for clean energy infrastructure in India.

Business Structure Benefits

The subsidiary model offers several operational advantages for project execution. It enables specialized focus on solar power development while maintaining clear corporate governance structures. This approach facilitates efficient project management and potential future expansion in the renewable energy segment.

The establishment of this subsidiary positions Ceigall India to capitalize on opportunities in Madhya Pradesh's renewable energy landscape while contributing to India's solar power development goals.

Ceigall India Limited's Management Committee has approved strategic acquisitions and subsidiary incorporations in its meeting held on January 02, 2026, marking significant expansion moves across power transmission, renewable energy, and infrastructure development sectors.

Strategic Acquisition in Power Transmission

The Management Committee approved the signing of a Share Purchase Agreement to acquire 100% shares of Velgaon Power Transmission Limited (VPTL), a wholly owned subsidiary of REC Power Development and Consultancy Limited. The acquisition details are structured as follows:

This acquisition follows Ceigall India's selection as the preferred bidder for the "Establishment of 400/220 kV Velgaon Substation (GIS)" project through the Tariff Based Competitive Bidding (TBCB) process, as communicated via Letter of Intent dated November 24, 2025. VPTL was incorporated on March 29, 2025, with an authorized and paid-up share capital of ₹5.00 lakh divided into 50,000 equity shares.

Renewable Energy Expansion

The committee approved the incorporation of Ceigall Green Energy MP Limited as a wholly owned subsidiary to implement solar power projects in Madhya Pradesh. The subsidiary formation parameters include:

This subsidiary will execute multiple Letter of Awards received from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) for Solar PV based Power Plants, focusing on grid-connected solar power projects under the renewable energy initiative.

Infrastructure Development Initiative

The Management Committee also approved the incorporation of Ceigall Indore Ujjain Greenfield Highway Limited as a step-down subsidiary. This Special Purpose Vehicle will be established through Ceigall Infra Projects Private Limited, the company's wholly owned subsidiary.

The project involves construction of the Indore Ujjain Greenfield Access Control highway, awarded by Madhya Pradesh Road Development Corporation Limited on December 28, 2025.

Regulatory Compliance and Corporate Governance

The Management Committee meeting commenced at 02:45 P.M. (IST) and concluded at 04:00 P.M. (IST) on January 02, 2026. All approvals were made in accordance with powers conferred by the Board of Directors and comply with Regulation 30 of SEBI (LODR) Regulations, 2025.

The company has provided comprehensive disclosures as required under SEBI Listing Regulations, including detailed annexures covering acquisition parameters, subsidiary incorporation details, and regulatory compliance requirements. Company Secretary Megha Kainth (Membership no: F7639) digitally signed the regulatory filing, confirming all approved transactions involve cash considerations and align with the company's strategic expansion across multiple infrastructure sectors.