IL&FS Transportation today said it has increased its stake in Noida Toll Bridge Company (NTBCL) to Rs 26.37 per cent following transfer of 1.02 per cent stake by the promoters to it.
The move was aimed at consolidating investment in road assets.
Prior to the transfer, the company's holding in the NTBCL stood at 25.35 per cent.
"In order to consolidate investments in road assets, Infrastructure Leasing and Financial Services Ltd, promoter has today transferred its equity stake held in NTBCL comprising 19,00,000 equity shares of Rs 10 each representing 1.02 per cent to the company," IL&FS Transportation said in a filing to the BSE.
It said the company has paid consideration of Rs 23.50 per share, the prevailing market price, on the stock exchanges aggregating to Rs 4.46 crore.
"Subsequent to the aforesaid acquisition, the company's holding in NTBCL has increased from 25.35 per cent to 26.37 per cent," it said.
The shares of the company closed at Rs 73.40 apice on the BSE, down 0.41 per cent from the previous close.
