IL&FS Transportation Networks has received an approval for transfer of the entire shareholding in Pune Sholapur Road Development Company (PSRDCL) namely, 16,00,00,000 equity shares representing 90.91% of the paid-up capital of PSRDCL to Roadstar Infra Investment Trust (the Trust) for a consideration of Re 1.
In addition to the above, the company has also assigned its Receivables owed by PSRDCL amounting to Rs 477 crore to Roadstar Infra Investment Trust (the Trust) pursuant to the Deed of Assignment executed with Axis Trustee Services (as the Trustees) at a consideration of Rs 477 crore paid in the form of 474,33,603 units of the Trust aggregating to a value of Rs 474 crore and balance amount in cash. Consequent to the said actions, PSRDCL has ceased to be the subsidiary of the Company effective from May 12, 2023.
IL&FS Transportation Networks is an established surface transportation infrastructure company and is one of the largest private sector BOT road operators in India. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4081.20 |
| Rail Vikas Nigam | 284.35 |
| NCC | 154.10 |
| KEC International | 567.00 |
| Kalpataru Projects | 1209.90 |
| View more.. | |
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