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IL&FS Transportation Networks has informed that in reference to the letter dated December 7, 2022 intimating the execution of Share Purchase Agreement (SPA) on December 6, 2022 with Axis Trustee Services (as the Trustee of Roadstar Infra Investment Trust (the Trust)) to sell and transfer 13,09,86,900 equity shares representing 99.99% of the paid-up capital of Hazaribagh Ranchi Expressway (HREL), a subsidiary of the Company for a consideration of Re 1 since the Equity Value of HREL after deducting all liabilities from the enterprise value as of cut-off date translates to Nil equity value and pursuant to the completion/ waiver of all the Condition Precedents, the transactions have been consummated and the Company has transferred the entire shareholding as stated herein above held in HREL to the Trust upon receipt of the consideration amount stated therein. Further, informed that the Company has also assigned its Receivables owed by HREL amounting to Rs 380,16,03,633 to Roadstar Infra Investment Trust (the Trust) pursuant to the Deed of Assignment executed with Axis Trustee Services (as the Trustees) on December 6, 2022 at a consideration of Rs 255,43,11,978 paid in the form of 2,51,78,412 units of the Trust aggregating to a value of Rs 251,78,41,200 and Rs 31 in cash after adjusting auto debit of Rs 3,64,70,747.

The above information is a part of company’s filings submitted to BSE.

IL&FS Trans &Network Share Price

2.60 0.11 (4.42%)
08-May-2026 16:59 View Price Chart
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