IL&FS Transportation Networks Limited to sell stake in WBCTRL

IL&FS Transportation Networks Limited has today entered into a Share Purchase Agreement (SPA) with Vishvaraj Infrastructure Limited, to sell and transfer the entire equity shareholding held by the Company in Warora Chandrapur Ballarpur Toll Road Limited (WBCTRL), an associate of the Company. The transaction is subject to receipt of various approvals including from National Company Law Tribunal and Government of Maharashtra.

Vishvaraj Infrastructure Limited (Buyer), currently owns 55% stake in WCBTRL. The Buyer does not belong to the promoter / promoter group / group companies of ITNL.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs. 4.19 as compared to the previous close of Rs. 4.10. The total number of shares traded during the day was 32599 in over 52 trades.

The stock hit an intraday high of Rs. 4.29 and intraday low of 3.90. The net turnover during the day was Rs. 134928.00.

Source : Equity Bulls

Keywords

ILandFSTransportationNetworks INE975G01012 RoadsandHighways ITNL StakeSale