IL&FS Transportation Networks has increased its stake in Noida Toll Bridge Company (NTBCL) from 25.35% to 26.37%. The company has paid consideration of Rs 23.50 per share, the prevailing market price on the stock exchanges aggregating to Rs 4.46 crore.
In order to consolidate investments in road assets, Infrastructure Leasing & Financial Services (ILFS), the promoter has transferred its equity stake held in NTBCL comprising of 19,00,000 equity shares of Rs 10 each representing 1.02% to the company.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.
