Ceigall India Limited announced that its Management Committee has approved the execution of a Non-Binding Offer (NBO) letter for the proposed sale of its entire 100% equity stake in two highway subsidiaries. The entities subject to the sale are Ceigall Jalbehra Shahbad Greenfield Highway Private Limited and Ceigall Bathinda Dabwali Highways Private Limited. The transaction is contingent upon successful due diligence and the finalization of definitive agreements.
Management Committee Decision on Divestment
The Management Committee of the Board of Directors of Ceigall India Limited convened on March 25, 2026, to address a significant corporate transaction. The committee formally considered and authorized the management to proceed with the execution of a Non-Binding Offer (NBO) letter.
This NBO relates to the prospective sale of the 100% equity stake held by the Company in its two wholly-owned subsidiaries, which operate in the highway sector.
Key Subsidiaries Targeted for Sale
The two specific subsidiaries involved in the proposed divestment are:
- Ceigall Jalbehra Shahbad Greenfield Highway Private Limited
- Ceigall Bathinda Dabwali Highways Private Limited
Conditions for Transaction Finalization
The consummation of the proposed transaction is not immediate and is dependent on several critical milestones being met. These conditions precedent include the successful completion of due diligence procedures, subsequent negotiation between parties, and the formal execution of definitive agreements. Furthermore, securing all necessary regulatory, statutory, and lender approvals remains mandatory before the sale can be finalized.
Disclosure Timelines
The Company confirmed that detailed information regarding the transaction, as required for public disclosure, will be submitted subsequently. This submission will occur once the Definitive Agreements are executed, following the satisfactory completion of due diligence and legal reviews by all involved parties.
The Management Committee meeting commenced at 02:30 P.M. (IST) and concluded at 02:45 P.M. (IST) on the date of the announcement.
Source: BSE
