March 15, 2022 | |
General Manager | Vice President |
Listing Department | Listing Department |
BSE Limited, | National Stock Exchange of India Limited |
P.J. Tower, Dalal Street, | 'Exchange Plaza', Bandra Kurla Complex, |
Mumbai 400 001 | Bandra (East), Mumbai - 400 051 |
Scrip Code No: 533177 | Scrip Code No: IL&FSTRANS EQ |
Dear Sir/Madam, |
Sub: Intimation of execution of Share Purchase Agreement for sale of equity shares held in Sikar Bikaner Highways Limited, a wholly owned subsidiary of the Company
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we hereby inform that the Company has today entered into a Share Purchase Agreement ("SPA") with Axis Trustee Services Limited (as the trustee of Roadstar Infra Investment Trust ("the Trust")) and others to sell and transfer 12,40,50,000 equity shares representing 100% of its paid-up capital of Sikar Bikaner Highways Limited, a wholly owned subsidiary of the Company for a consideration of Rs. 375,49,77,356 to be received in the form of units of the Trust.
In addition to the above, the Company has also assigned its debts owed to Sikar Bikaner Highways Limited of Rs. 207,81,19,081 by executing a Deed of Assignment with Axis Trustee Services Limited against which a consideration to the equivalent amount is to be received in the form of units of the Trust.
The details of sale as required under Regulation 30 of the SEBI Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is attached herewith as Annexure A.
This is for your information and records.
Thanking you,
Yours faithfully,
For IL&FS Transportation Networks Limited
Krishna Ghag
Vice President &
Company Secretary
Annexure A
Sale or disposal of unit(s) or division(s) or subsidiary of the listed entity.
Sr. | Particulars | Description | ||||
No. | ||||||
1. | The amount and percentage of the | In FY 2017-18, the total revenue of | ||||
turnover or revenue or income and net | Sikar | Bikaner | Highways Limited | |||
worth contributed by such unit or | was Rs. 54.07 Crore which is 0.55% | |||||
division of the listed entity during the | % of the Consolidated Revenue of | |||||
last financial year; | Rs. 9,778.92 Crore of the Company | |||||
during that year. | ||||||
Since the consolidated financials for | ||||||
the previous financial year are not | ||||||
available, | the | information | is | |||
provided for FY 2017-18. | ||||||
2. Date on which the agreement for sale | March 14, 2022 | |||||
has been entered into; | ||||||
3. | The expected date of completion of | March 31, 2022 | ||||
sale/disposal; | ||||||
4. Consideration to be received from | (i) | Rs. 375,49,77,356/- | ||||
sale/disposal of (i) equity shares and | (ii) | Rs. 207,81,19,081/- | ||||
(ii) assignment of debt | ||||||
5. Brief details of buyers and whether any | Roadstar | Infra | Investment | Trust | ||
of the buyers belong to the promoter/ | ("the Trust")is registered with SEBI | |||||
promoter group/group companies. If | under | SEBI | (Infrastructure | |||
yes, details thereof; | Investment Trust) Regulations. Axis | |||||
Trustee Services Limited has been | ||||||
appointed as the Trustee of the | ||||||
Trust. | ||||||
6. Whether the transaction would fall | The transaction does not fall within | |||||
within related party transactions? If | the related party. However, the same | |||||
yes, whether the same is done at "arm's | has been done at arm's length basis | |||||
length" | with valuation carried out by 2 | |||||
Independent Valuers. |
7. Additionally, in case of a slump Not Applicable sale, indicative disclosures provided
for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale.
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IL&FS Transportation Networks Ltd. published this content on 15 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2022 13:51:03 UTC.