Khed Sinnar Expressway Ltd enters into settlement agreement with NHAI for Rs. 891.59 crores

Khed Sinnar Expressway Limited (KSEL), a subsidiary of IL&FS Transportation Networks Limited had developed the Khed - Sinnar Section of the road in the state of Maharashtra ("the Project"). KSEL had entered into a Settlement Agreement with National Highways Authority of India (NHAI) on April 6, 2022 for foreclosure of the Concession Agreement at a compensation of Rs. 891.59 Crores.

Pursuant to the above, NHAI has today paid a sum of Rs. 736.07 Crores in the Escrow Account of KSEL upon making necessary deductions. The Project will be handed over to NHAI in due course.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs. 4.22 as compared to the previous close of Rs. 4.31. The total number of shares traded during the day was 15693 in over 21 trades.

The stock hit an intraday high of Rs. 4.40 and intraday low of 4.10. The net turnover during the day was Rs. 66636.00.

Source : Equity Bulls

Keywords

ILandFSTransportationNetworks INE975G01012 NHAI SettlementAgreement KhedSinnarSection