Ceigall India Limited (CEIGALL) has entered into a Share Purchase Agreement (SPA) on June 3, 2026, to sell its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways Private Limited (CMASH). This subsidiary was held through Ceigall Infra Projects Private Limited. The buyer is Neo Infra Income Opportunity Fund, managed by Neo Alternative Asset Managers Private Limited. The transaction is not considered a related party transaction. For the financial year ended March 31, 2026, CMASH reported a turnover of ₹826.89 million, contributing 2.10% to Ceigall India's consolidated turnover. Its net worth was ₹1361.14 million, accounting for 6.30% of the company's consolidated net worth. The SPA was executed on June 3, 2026, following a Binding Offer Letter on February 9, 2026. The completion of the sale is expected soon after the satisfaction of conditions precedent outlined in the SPA. The consideration for the sale, including cash surplus, is ₹177 crore, subject to adjustments. The buyer does not belong to the promoter or group companies of Ceigall India Limited.
