IL&FS Transportation sells 49% stake in Rapid MetroRail

IL&FS Transportation Networks along with its subsidiary has sold 49% equity stake in Rapid MetroRail Gurgaon, a subsidiary of the company at a price of Rs 17 per share for an aggregate consideration of Rs 509.90 crore.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.