Ceigall India's Management Committee approved incorporation of project SPV 'Ceigall Ambala Chandigarh Zirakpur Limited' as a step-down subsidiary.
The SPV will implement a 10.3 km highway project in Punjab awarded by NHAI to subsidiary Ceigall Infra Projects.
Ceigall India will hold 26% stake in the SPV with a cash subscription cost of ₹26,000.
This is a regulatory filing under SEBI LODR Regulation 30 regarding subsidiary formation and project implementation.