Ceigall India Limited announced its Board of Directors has approved a proposal to raise funds up to ₹1000 Crores. The fundraising will be conducted through the issuance of equity shares and/or other securities, including convertible instruments. This strategic move aims to support the company’s growth initiatives and is subject to shareholder approval via a special resolution through postal ballot. Details of the fundraising plan are outlined in Annexure-II.
Ceigall India Board Approves Major Fundraising Initiative
In a significant strategic move, the Board of Directors of Ceigall India Limited has given its in-principle approval to raise substantial capital amounting to up to ₹1000 Crores. This decision was made during the Board meeting held on Thursday, November 05, 2026.
Proposed Issuance Details
The proposed fundraising will be undertaken through the issuance of equity shares and/or other securities. This includes, but is not limited to, securities convertible into equity shares, fully convertible debentures, partly convertible debentures, convertible preference shares, non-convertible debentures with or without warrants, global depository receipts, American depository receipts, foreign currency convertible bonds, foreign currency exchangeable bonds, or any security convertible into Equity Shares. The company may also consider any combination of these or other permissible modes as deemed appropriate and permitted by applicable laws.
The issuance can be structured through various methods such as a further public offer, preferential issue, rights issue, private placement, qualified institutions placement, or offshore offerings. The ultimate structure and form of the issuance, including the issue price, timing, and terms, will be decided by the Company’s Management Committee, in accordance with applicable laws.
Shareholder Approval and Regulatory Compliance
This fund-raising initiative is subject to obtaining necessary regulatory and statutory approvals. Crucially, it also requires the approval of the Company’s Shareholders through a special resolution via postal ballot. The details pertaining to this proposal are elaborated in Annexure-II, providing comprehensive information as required by SEBI Listing Regulations.
Financial Results and Other Approvals
The Board also considered and approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026, along with the Limited Review Reports. A disclosure regarding outstanding default on loans and debt securities is also enclosed as Annexure-IA. The company also approved the increase in its Authorized Share Capital from ₹110,00,00,000/- to ₹120,00,00,000/-. Furthermore, the appointment of Mr. Chandan Singh as an Additional Director/ Whole Time Director for a term of 3 years was approved, subject to shareholder consent.
Divestment of Subsidiary
In a separate strategic decision, the Board also approved in-principle the execution of a Binding Offer Letter for the proposed sale of its step-down subsidiary, Ceigall Bathinda Dabwali Highways Private Limited (“CBDHPL”), to Neo Alternative Asset Managers Private Limited (“Acquirer”). This divestment is subject to requisite approvals.
The meeting of the Board commenced at 11:00 A.M. and concluded at 01:55 P.M.
Source: BSE
