Ceigall India Limited’s Board of Directors has approved the acquisition of 100% shares of Jam Khambhaliya Jamnagar Power Transmission Limited (JKJTL), a subsidiary of REC Power Development and Consultancy Limited. Additionally, the company will invest by subscribing to 49% equity in a proposed joint venture company, aiming to expand its presence in the power transmission sector.
Board Approves Strategic Expansions in Power Sector
At a board meeting held on Friday, September 11, 2026, Ceigall India Limited (CIL) approved two significant strategic moves aimed at bolstering its presence in the power transmission and distribution sector.
Acquisition of JKJTL
The first key decision was the signing of a Share Purchase Agreement for the acquisition of 100% of the shares of the project Special Purpose Vehicle (SPV), Jam Khambhaliya Jamnagar Power Transmission Limited (JKJTL). JKJTL is currently a wholly-owned subsidiary of REC Power Development and Consultancy Limited (REC). This acquisition is in continuation of an earlier intimation dated September 3, 2026, regarding REC’s Letter of Intent (LOI) for the “Common Transmission System for evacuation of power from Lakadia (Phase-II: 7.5GW), Jam Khambhaliya (Phase-II: 5.5GW) and Jamnagar (Phase-I: 1GW) – Part-B” project through a Tariff Based Competitive Bidding Process (TBCB).
Investment in Joint Venture
The second major approval was the decision to invest by way of subscription to 49% equity in a Joint Venture (JV) company that is proposed to be incorporated. This JV is also intended to further the company’s objectives within the infrastructure development domain.
Project Details and Rationale
The acquisition of JKJTL involves a consideration of Rs. 5,00,000/- to acquire 50,000 equity shares at Rs. 10/- each, securing 100% shareholding. JKJTL is involved in the electric power generation, transmission, and distribution business and was incorporated on May 9, 2026. The JV entity, to be known as HC Concessions Limited (or similar name approved by MCA), will undertake infrastructure development and construction activities, including power and renewable energy projects. Ceigall India will hold 49% shareholding in this JV, with an investment of Rs. 49,000/-.
The board meeting commenced at 03:30 p.m. and concluded at 04:15 p.m. on September 11, 2026.
Source: BSE
