IL&FS Transportation Divests Entire Stake In Rajasthan Land Holdings

IL&FS Transportation on Friday announced that it has divested its entire stake in Rajasthan Land Holdings (RLHL), a subsidiary company having ownership of certain land parcels.

The company in its regulatory filing said that it has signed an agreement with Paranjape Group for the transfer of its entire stake comprising of 20,00,000 equity shares of Rs 10 each in RLHL.

Paranjape Group is engaged in real estate development in Mumbai, Pune, and other metro areas, including development of SEZ.

The announcement was made post market hours on Friday. Shares of IL&FS Transportation closed at Rs 94 per share lower by Rs 2.05 per share or 2.13% on the NSE on Friday.

IL&FS Transportation is a surface transportation infrastructure company, engaged in developing, designing, operating, maintaining and facilitating surface transportation infrastructure projects across India and overseas.

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About Suhani Varma