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| Exchange Disseminated Time | IL&FS Transportation Networks Ltd has informed BSE that:
1. The Company has acquired 100% equity stake comprising of 50,000 Equity Shares of Rs. 10 each of GRICL Rail Bridge Development Company Ltd (GRBDCL), which has concession rights for development of 8 Railway Over Bridges in the State of Gujarat ("Project") under PPP Mode on Annuity basis from the Roads & Building Department, Government of Gujarat. The Government of Gujarat has approved the aforesaid transaction including transfer of concession rights for development of the Project to be undertaken by the Company. The Company has paid a consideration of Rs. 5,00,000/-. GRBDCL has become a wholly owned subsidiary of the Company effective March 31, 2016.
2. The Company has also acquired 100% equity stake of Rajasthan Land Holdings Ltd (RLHL) comprising of 20,00,000 Equity Shares of Rs. 10 each at a price of Rs. 12.50 each for an aggregate consideration of Rs. 2,50,00,000/-. Consequent to the payment of consideration, RLHL has become a wholly owned subsidiary of the Company effective on March 31, 2016. |
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