Ceigall India Limited announced board approval for two key strategic initiatives. The company will acquire 100% shares of Jam Khambhaliya Jamnagar Power Transmission Limited, a wholly-owned subsidiary of REC Power Development and Consultancy Limited. Additionally, Ceigall India will invest by subscribing to 49% equity in a newly proposed Joint Venture company. These moves signal expansion in the power transmission sector.
Ceigall India Board Approves Strategic Expansion
At a board meeting held on September 11, 2026, Ceigall India Limited approved two significant strategic moves to bolster its presence in the power sector. The first is the signing of a Share Purchase Agreement to acquire 100% of the shares in Jam Khambhaliya Jamnagar Power Transmission Limited (“JKJTL”). This Special Purpose Vehicle (SPV) is a wholly-owned subsidiary of REC Power Development and Consultancy Limited (“REC”).
Acquisition Details for JKJTL
The acquisition of JKJTL is a direct outcome of Ceigall India’s earlier receipt of a Letter of Intent (LOI) from REC. This LOI pertains to the establishment of a “Common Transmission System for evacuation of power” from the Lakadia and Jam Khambhaliya power projects. The total consideration for the acquisition is Rs. 5,00,000/-, for which Ceigall India will acquire 50,000 equity shares of Rs. 10/- each, representing 100% shareholding in JKJTL. The target company, JKJTL, is involved in the Power Transmission & Distribution industry and was incorporated on 09th May 2026.
Investment in New Joint Venture
In addition to the acquisition, the board also approved an investment by way of subscribing to 49% equity in a new Joint Venture company, which is proposed to be incorporated. This new entity, tentatively named “HC Concessions Limited” (or a name approved by MCA), will focus on the Infrastructure Development Industry. The JV is being formed with HCC Infrastructure Company Limited as the holding company, and it aims to undertake diverse infrastructure projects including roads, highways, power, and renewable energy projects.
Investment in JV Details
Ceigall India will subscribe to 4,900 Equity Shares of Rs.10/- each, aggregating to Rs. 49,000/-, for its 49% stake in the JV. The JV is planned to undertake construction and development activities across various models like BOT, HAM, and DBFO.
Source: BSE
