IL&FS Transportation Networks has entered into a Share Purchase Agreement (SPA) with Axis Trustee Services (as the trustee of Roadstar Infra Investment Trust (the Trust)) and others to sell and transfer 12,40,50,000 equity shares representing 100% of its paid-up capital of Sikar Bikaner Highways, a wholly owned subsidiary of the Company for a consideration of Rs 375.50 crore to be received in the form of units of the Trust.
In addition, the company has also assigned its debts owed to Sikar Bikaner Highways of Rs 207.81 crore by executing a Deed of Assignment with Axis Trustee Services against which a consideration to the equivalent amount is to be received in the form of units of the Trust.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company.
