IL&FS transfers equity stake in NTBCL to consolidate investment in road assets

Infrastructure Leasing and Financial Services (IL&FS) has transferred its equity stake in Noida Toll Bridge Company Limited. The stake transfer comprises 1.9 million equity shares of Rs 10 each representing a share of 1.02 per cent. The company has paid a consideration of Rs 23.50 per share aggregating Rs 44.65 million. In a separate development, IL&FS Transportation Networks Limited’s  board of directors has approved the allotment of 1.9 million rated, redeemable NCDs with a face value of Rs 1 million (aggregating about Rs 2 billion) on a private placement basis.

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