Ceigall India to Acquire JKJTL SPV and Subscribe to Joint Venture

LUDHIANA, INDIA — Infrastructure construction entity Ceigall India Limited announced on September 11, 2026, that its Board of Directors has approved the 100% acquisition of Jam Khambhaliya Jamnagar Power Transmission Limited (JKJTL) for an aggregate cash consideration of ₹5,00,000. In a parallel corporate action, the board also authorized a strategic subscription to a 49% equity stake in a proposed joint venture company set to focus on broader infrastructure development projects. The announcements follow the company’s recent receipt of a Letter of Intent for a major interstate power transmission asset in Gujarat, marking an aggressive diversification strategy beyond traditional highway engineering and construction services.

Takeover of Jam Khambhaliya Jamnagar Power Transmission Limited

The board of Ceigall India Limited formally agreed to acquire 100% shareholding in Jam Khambhaliya Jamnagar Power Transmission Limited from REC Power Development and Consultancy Limited (RECPDCL). Under the agreed financial terms, the total acquisition cost stands at ₹500,000 for 50,000 equity shares valued at a face value of ₹10 each.

JKJTL was incorporated on May 9, 2026, as a Special Purpose Vehicle (SPV) by RECPDCL to facilitate the establishment of a common transmission system. The underlying project involves building, owning, operating, and maintaining a major transmission grid designed to evacuate up to 14 GW of renewable energy from Lakadia, Jam Khambhaliya, and Jamnagar in Gujarat. The complete share purchase transforms Ceigall India from the selected bidder into the sole corporate owner of the project SPV.

Subscription of Equity in Proposed Joint Venture Entity

Alongside the SPV acquisition, Ceigall India's board approved a proposal to subscribe to a 49% equity stake in a newly proposed joint venture entity. The upcoming joint venture is structured to undertake large-scale infrastructure projects across multiple engineering verticals, including roads, highways, and renewable power infrastructure.

According to regulatory updates, the acquisition of JKJTL does not constitute a related party transaction. No additional government or external regulatory approvals are required to complete the share transfer of the SPV, enabling immediate execution.

Official Sources Section

According to official disclosures filed with the National Stock Exchange of India (NSE) and BSE Limited, the board meeting of Ceigall India Limited commenced at 3:30 PM IST and concluded at 4:15 PM IST on September 11, 2026. Regulatory filings confirm that all transactions will be completed through cash consideration under SEBI Listing Obligations and Disclosure Requirements.

Quote Section

"According to officials, the acquisition of the project SPV completes the formal transition allowing Ceigall India to execute the ₹5,300 crore interstate transmission network, unlocking a predictable 35-year revenue stream."

Why It Matters

For investors and market analysts, acquiring 100% of JKJTL for ₹5 lakh provides Ceigall India with full operational control over an estimated ₹5,300 crore infrastructure asset. Once constructed over a 36-month timeline, the power grid project carries guaranteed annual transmission charges of ₹608.67 crore for 35 years under a tariff-based competitive bidding model. The dual initiatives allow the company to diversify its revenue base from road construction into long-term annuity-style utility assets.

Key Facts at a Glance

• Acquisition Cost: ₹500,000 for 50,000 equity shares at ₹10 face value each.

• Entity Acquired: 100% equity stake in Jam Khambhaliya Jamnagar Power Transmission Limited.

• Joint Venture Track: Approval to subscribe to a 49% equity stake in a proposed infrastructure joint venture company.

• Underlying Project Scope: Evacuation of 14 GW of renewable power in Gujarat with ₹608.67 crore in annual transmission fees over 35 years.

FAQ Section

Q1: What is the total acquisition cost for Jam Khambhaliya Jamnagar Power Transmission?

A1: The acquisition cost is ₹500,000 for 50,000 equity shares, giving Ceigall India 100% ownership of the SPV.

Q2: What is the role of the proposed joint venture company?

A2: Ceigall India will subscribe to a 49% equity stake in the proposed joint venture to jointly bid for and execute infrastructure, highway, and renewable energy projects.

Q3: Who was the original owner of Jam Khambhaliya Jamnagar Power Transmission Limited?

A3: The entity was previously a wholly-owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL).

Source: Regulatory Filings submitted by Ceigall India Limited to the National Stock Exchange of India (NSE) and BSE Limited on September 11, 2026.