Ceigall India Limited has announced the acquisition of 100% equity shares of Velgaon Power Transmission Limited (VPTL) from REC Power Development and Consultancy Limited. This transaction, effective January 9, 2026, makes VPTL a wholly-owned subsidiary of Ceigall India.

The acquisition was a condition for undertaking the Project "Establishment of 400/220 kV Velgaon Substation (GIS) through Tariff based Competitive Bidding (TBCB) Process", for which Ceigall India had previously received a Letter of Intent on November 23, 2025.

The total cost of acquisition is ₹1,88,87,232 (Rupees One Crore Eighty-Eight Lakh Eighty-Seven Thousand Two Hundred Thirty-Two only). Velgaon Power Transmission Limited, incorporated on March 29, 2025, operates in the Power Transmission & Distribution sector and had no turnover in the last three financial years due to its recent incorporation. The transaction is a cash consideration and is not considered a related party transaction.