Neo AIF to invest Rs 4.50 billion in Ceigall India's Punjab road project
ECONOMY & POLICY

Neo AIF to invest Rs 4.50 billion in Ceigall India's Punjab road project

The Neo Infra Income Opportunities Fund (NIIOF) is poised to acquire the complete equity of Ceigall India for approximately Rs 4.50 billion, covering its operational four-laned road stretch that extends from Punjab to Rajasthan.

Sources familiar with the matter indicated that Ceigall India is in advanced discussions with its parent company, Neo Asset Management, regarding the sale of its 100% stake in the Malout highway project, with an enterprise value estimated between Rs 4 and Rs 4.50 billion.

Neo Asset Management serves as the alternative asset management branch of Neo Group, which operates the Neo Infra Income Opportunities Fund.

Ceigall India is recognized as an infrastructure construction firm that has successfully developed over 1,739.88 lane km of various road types, including highways, elevated roads, flyovers, bridges, railway over bridges, tunnels, expressways, and runways.

The project in question is a four-lane road spanning 65 kilometers from Malout in Punjab to Sadhuwali in Rajasthan, executed under a hybrid annuity model as part of the Bharatmala scheme. The concession period for this project is set at 17 years, incorporating a two-year construction period, and it was completed on June 6, 2023, according to one of the sources.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Neo Infra Income Opportunities Fund (NIIOF) is poised to acquire the complete equity of Ceigall India for approximately Rs 4.50 billion, covering its operational four-laned road stretch that extends from Punjab to Rajasthan. Sources familiar with the matter indicated that Ceigall India is in advanced discussions with its parent company, Neo Asset Management, regarding the sale of its 100% stake in the Malout highway project, with an enterprise value estimated between Rs 4 and Rs 4.50 billion. Neo Asset Management serves as the alternative asset management branch of Neo Group, which operates the Neo Infra Income Opportunities Fund. Ceigall India is recognized as an infrastructure construction firm that has successfully developed over 1,739.88 lane km of various road types, including highways, elevated roads, flyovers, bridges, railway over bridges, tunnels, expressways, and runways. The project in question is a four-lane road spanning 65 kilometers from Malout in Punjab to Sadhuwali in Rajasthan, executed under a hybrid annuity model as part of the Bharatmala scheme. The concession period for this project is set at 17 years, incorporating a two-year construction period, and it was completed on June 6, 2023, according to one of the sources.

Next Story
Resources

KPIL Bags New Orders of Rs 10.11 Billion

Kalpataru Projects International Limited (KPIL), along with its international subsidiaries have secured new orders/notification of awards of Rs 10.11 billion (bn). The company has received news order in the Transmission & Distribution (T&D) business in overseas market, in the Railway business in India and in the Buildings & Factories (B&F) business in India Manish Mohnot, MD & CEO, KPIL, said, “We are pleased with the strong momentum in order inflows, which has significantly strengthened our order book, with YTD inflows now exceeding Rs 173 bn. Notably, 85 per cent of t..

Next Story
Building Material

Antica Ceramica’s Tile Collection Blends Luxury and Practicality

Antica Ceramica, a leader in innovative tile design, has recently launched a new marble-look tile collection that combines the elegance of natural marble with the durability and ease of maintenance of porcelain tiles. This collection is set to transform spaces in residential, commercial, and hospitality settings, offering architects, interior designers, and homeowners the ideal solution for creating sophisticated, timeless interiors with minimal upkeep.One of the key advantages of marble-look tiles is their resistance to common issues associated with natural marble. These tiles are highly resi..

Next Story
Infrastructure Transport

IndiGo and AAI Launch Zero-Waste Airport Project at Indore

IndiGo, through its CSR arm IndiGoReach, has partnered with the Airports Authority of India (AAI) and the AAS Foundation, Indore, to roll out the Zero-Waste Airport Project at Indore Airport. The initiative focuses on the 4R strategy—Reduce, Reuse, Recycle, and Recover—to minimise environmental impact and set a benchmark in sustainable waste management for the aviation industry. The project processes 750 kg of daily airport waste on-site, reducing reliance on traditional disposal methods. A Material Recovery Facility (MRF) segregates dry waste into 10 categories for recycling, while a Wet..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000