Ceigall India Limited has officially approved the incorporation of a new project-specific subsidiary, Ceigall Ambala Chandigarh Zirakpur Limited. This step-down subsidiary will facilitate the implementation of a major 10.300 Km highway project in Punjab awarded by the National Highways Authority of India. The project, which involves the construction of a 6-lane access-controlled spur, is being executed under the Hybrid Annuity Mode to ensure efficient development and delivery.
Strategic Project Expansion
To execute the recently awarded highway development project, Ceigall India Limited has formed a Special Purpose Vehicle (SPV) named Ceigall Ambala Chandigarh Zirakpur Limited. The Management Committee of the Board of Directors approved this incorporation on April 23, 2026, marking a key milestone in the company’s commitment to advancing India’s infrastructure capabilities.
Project Scope and Execution
The new entity will oversee the construction of a critical 10.300 Km 6-lane access-controlled spur. This stretch connects the Ambala – Chandigarh section of NH-205A to the Zirakpur Bypass. By operating as a dedicated SPV under the Hybrid Annuity Mode, the company aims to streamline project management and ensure the timely delivery of this vital road network in the state of Punjab.
Investment Details
Ceigall India Limited will hold a 26% stake in the newly incorporated subsidiary. The cost of subscription for these shares is valued at Rs. 26,000, with the investment being made through a cash consideration. This structure allows the company to maintain focused control over the project while effectively allocating resources for its diverse infrastructure portfolio.
Source: BSE
