IL&FS Transportation Networks has entered into an agreement with Vistra ITCL India, Trustee of IL&FS Infrastructure Incubation Trust for transfer of 41% equity stake comprising of 33,89,42,426 Equity shares at a consideration of Rs 372.84 crore held by the company in IL&FS Rail (IRL), a subsidiary of the company, which has developed and is operating Metro Rail Projects. The entire consideration will be received upon receipt of necessary approval and fulfillment of certain conditions precedent.
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.
