Galaxy Investments II Pte. Ltd. signed a binding Securities Subscription-Cum-Purchase Agreement to acquire 24% stake in Bangalore Elevated Tollway Limited from IL&FS Engineering and Construction Company Limited (BSE:532907) for INR 571 million on September 28, 2022. As per the terms the consideration will be received in tranches. Transaction is subject to the approval of NCLT, Mumbai. The proceeds would be primarily utilized for redemption of these securities and balance to the equity shareholders. Ashwath Rau and Atreya Bhattacharya of AZB & Partners acted as legal advisors to Galaxy Investments II Pte. Ltd.

Galaxy Investments II Pte. Ltd. completed the acquisition of 24% stake in Bangalore Elevated Tollway Limited from IL&FS Engineering and Construction Company Limited (BSE:532907) for INR 650 million on August 30, 2023.