Ramky Infrastructure has signed definitive agreements on 16 August 2018 with IL&FS Transportation Networks (ITNL) for --
(i) Acquisition of 11,67,50,000 Equity shares of Rs. 10 each representing 50% held by ITNL in NAM Expressway which will become our wholly owned subsidiary and
(ii) Sale of 4,20,00,000 Equity shares of Rs. 10 each representing 50% held in Jorabat Shillong Expressway (JSEL) to ITNL
The net consideration payable for the above transaction to ITNL will be Rs. 43.20 crore based on a valuation obtained from an Independent Valuer and is not a related party transaction.
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