Ceigall India Revamps with Strategic Merger

Ceigall India has announced a strategic move to boost its business efficiency by merging its wholly-owned subsidiary, Ceigall Infra Projects, with the publicly traded C&C Construction. This merger aims to create a more robust infrastructure portfolio by integrating C&C Construction's capabilities in various sectors, including railways and building construction.

The merger, pending approval from the National Company Law Tribunal (NCLT), is part of Ceigall India's strategy to revive C&C Construction from liquidation while maintaining compliance with SEBI regulations. Initially, Ceigall India will hold up to 95% of the merged entity, which they plan to reduce to 75%.

Ceigall India sees this acquisition as an opportunity not only to increase its operational efficiency and business agility but also to attract more investor interest. The company is expected to benefit from increased visibility and financial contributions, supporting both current and future infrastructure projects. Ceigall Infra currently boasts a turnover of approximately Rs 115 crore and a net worth of Rs 64 crore.

(With inputs from agencies.)