IL&FS Transportation Networks has signed agreements on September 29, 2017 with Oriental Tollroads, Delhi for divesting part of its equity stake in SPVs. The board approved to sell 55,46,230 equity shares of Rs 10 each held in Gujarat Road and Infrastructure Company (GRICL), representing 10% of paid up equity capital at an aggregate consideration of Rs 83.19 crore.
Further, the board also approved to sell 3,21,40,691 equity shares of Rs 10 each held in Moradabad Bareilly Expressway (MBEL), representing 14.5% of paid up equity capital at an aggregate consideration of Rs 80.35 crore.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company.
