December 16, 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 transfer of equity stake held in Thiruvananthapuram Road Development Company Limited (TRDCL), a joint venture of the Company

Ref.: Our letter dated December 7, 2022 intimating the execution of Share Purchase Agreement for sale of equity stake in TRDCL

This refers to our letter dated December 7, 2022 intimating the execution of Share Purchase Agreement ("SPA") on December 6, 2022 with Axis Trustee Services Limited (as the Trustee of Roadstar Infra Investment Trust ("the Trust")) to sell and transfer 1,70,30,000 equity shares representing 50% of the paid-up capital of Thiruvananthapuram Road Development Company Limited, a joint venture of the Company for a consideration of Re. 1/- since the Equity Value of TRDCL after deducting all liabilities from the enterprise value as of cut-off date translates to Nil equity value.

Pursuant to the completion/waiver of all the Condition Precedents, the transactions have been consummated and the Company has transferred the entire shareholding as stated herein above held in TRDCL to the Trust upon receipt of the consideration amount stated therein.

Further, please note that the Company has also assigned its Receivables owed by TRDCL amounting to INR 139,55,30,017 to Roadstar Infra Investment Trust ("the Trust") pursuant to the Deed of Assignment executed with Axis Trustee Services Limited (as the Trustees) on December 6, 2022 at a consideration of Rs. 40,01,70,570 paid in the form of 37,53,445 units of the Trust aggregating to a value of Rs. 37,53,44,500 and Rs. 87 in cash after adjusting auto debit of Rs 2,48,25,983

Consequent to the above actions, TRDCL has ceased to be the joint venture of the Company effective today.

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 DHONDU GHAG

Digitally signed by KRISHNA DHONDU GHAG Date: 2022.12.16 20:47:38 +05'30'

Krishna Ghag

Vice President & Company Secretary

FCS-4489

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

Thiruvananthapuram

Road

worth contributed by such unit or

Development Company

Limited

division of the listed entity during the

was Rs. 21.80 Crore, which is 0.22

last financial year;

% of the Consolidated Revenue of

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

December 6, 2022

has been entered into

3.

The date of completion of sale/disposal

December 16, 2022

4.

Consideration

received

from

(i)

Re.: 1/-

in cash

for equity

sale/disposal of (i) equity shares and

shares

(ii) assignment of debt

(ii)

Rs.

40,01,70,570/-

for

assignment

of

debt

(paid

in the form of 37,53,445

units

of

the

Trust

aggregating

to

Rs.

37,53,44,500/-

and

cash

of Rs. 87/- after adjusting

auto

debit

of

Rs

2,48,25,983)

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

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 17 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2022 20:02:06 UTC.