Mumbai, June 4 -- Under the terms of the agreement, Ceigall India and Ceigall Infra Projects will transfer their shareholding in CMASH to the infrastructure-focused investment fund. The transaction, including cash surplus, is valued at approximately Rs 177 crore, subject to customary adjustments between the parties.

CMASH, a step-down subsidiary of Ceigall India, operates a highway asset in Punjab. For the financial year ended March 31, 2026, the company reported a turnover of Rs 82.69 crore, contributing around 2.1% of Ceigall India's consolidated turnover. The project company's net worth stood at Rs 136.11 crore, representing approximately 6.3% of the group's consolidated net worth.

The company said that the divestment aligns with its...