Ceigall India Limited announced that its Management Committee of the Board of Directors, in a meeting held on July 9, 2026, approved the creation of security for a Rupee Term Loan facility sanctioned to Velgaon Power Transmission Limited, a wholly-owned subsidiary and project special purpose vehicle (SPV). The SPV is being financed for a power project. Additionally, the committee approved further investment in the Project SPV through equity share capital and by providing loans and securities as per fund requirements. Velgaon Power Transmission Limited was identified as the Selected Bidder for the project "Establishment of 400/220 kV Velgaon Substation (GIS) through Tariff based Competitive Bidding (TBCB) Process". The company is required to infuse ₹109.19 crore into the project SPV by way of equity shares, unsecured loan, or other instruments. This acquisition is not a related party transaction, and no promoter or group companies have an interest in the entity. The SPV, incorporated on March 29, 2025, operates in the Power Transmission & Distribution sector, and its operations are yet to commence.
