Ceigall India has entered into a definitive agreement to divest its stake in Ceigall Malout Abohar Sadhuwali Highways (CMASH), a road infrastructure project company in Punjab, to Neo Infra Income Opportunity Fund, managed by Neo Alternative Asset Managers. The transaction has been formalized through a Share Purchase Agreement (SPA) executed on June 3, 2026, following the signing of a binding offer letter earlier this year.
Under the terms of the agreement, Ceigall India and its wholly owned subsidiary, Ceigall Infra Projects, will transfer their shareholding in CMASH to the infrastructure-focused investment fund. The total consideration for the transaction, including cash surplus, is valued at approximately Rs 177 crore, subject to customary adjustments agreed between the parties.
The transaction is expected to be completed upon the fulfillment of customary conditions precedent outlined in the Share Purchase Agreement. The divestment aligns with Ceigall India's strategy of monetizing operational infrastructure assets and recycling capital to support future growth opportunities across its infrastructure development and construction businesses.
Ceigall India is an infrastructure construction company with experience in undertaking specialized structural works such as elevated roads, flyovers, bridges, Railway over bridges (ROB), tunnels, highways, expressways and runways.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3939.50 |
| Rail Vikas Nigam | 236.45 |
| NCC | 146.90 |
| KEC International | 506.50 |
| Kalpataru Projects | 1292.15 |
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