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Ceigall India Limited announced significant strategic moves approved by its Management Committee of the Board of Directors on January 02, 2026. The company will sign a Share Purchase Agreement to acquire 100% of the project SPV “Velgaon Power Transmission Limited” (VPTL), a wholly owned subsidiary of REC Power Development and Consultancy Limited. This acquisition is a continuation of the company's earlier intimation on November 24, 2025, regarding the receipt of a Letter of Intent from REC for the “Establishment of 400/220 kV Velgaon Substation (GIS)” through the Tariff Based Competitive Bidding (TBCB) process. The acquisition cost for 50,000 equity shares of ₹10 each is ₹5,00,000.

Furthermore, the company approved the incorporation of two new project Special Purpose Vehicles (SPVs). “Ceigall Green Energy MP Limited” will be incorporated as a Wholly Owned Subsidiary to implement multiple Letters of Awards received from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) for solar photovoltaic power generating stations with an aggregate capacity of 130 MW (AC) under the Surya Mitra Krishi Feeders Scheme – PM KUSUM -C. The cost of subscription for this subsidiary is ₹1,00,000.

Additionally, “Ceigall Indore Ujjain Greenfield Highway Limited” will be incorporated as a step-down subsidiary. This SPV is formed to implement the project awarded by Madhya Pradesh Road Development Corporation Limited for the construction of the Indore Ujjain Green field (Access Control) 4-lane highway on Hybrid Annuity Mode (HAM). The cost of subscription for this subsidiary is also ₹1,00,000.

The meeting of the Management Committee commenced at 02:45 P.M. (IST) and concluded at 04:00 P.M. (IST) on January 02, 2026.