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 Hazaribagh Ranchi Expressway Limited (HREL), a subsidiary of the Company

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

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 13,09,86,900 equity shares representing 99.99% of the paid-up capital of

Hazaribagh Ranchi Expressway Limited (HREL), a subsidiary of the Company for a consideration of Re. 1/- since the Equity Value of HREL after deducting all liabilities from the enterprise value as of cut-offdate 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 HREL to the Trust upon receipt of the consideration amount stated therein.

Further, please note that the Company has also assigned its Receivables owed by HREL amounting to INR Rs. 380,16,03,633 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. 255,43,11,978 paid in the form of 2,51,78,412 units of the Trust aggregating to a value of Rs. 251,78,41,200 and Rs. 31in cash after adjusting auto debit of Rs 3,64,70,747

Consequent to the above actions, HREL has ceased to be the subsidiary 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 20:47:00 +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.

8.

The amount and percentage of the

In FY 2017-18, the total revenue of

turnover or revenue or income and net

Hazaribagh Ranchi

Expressway

worth contributed by such unit or

Limited was Rs. 72.01 Crore which

division of the listed entity during the

is 0.74 % of the Consolidated

last financial year;

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.

9.

Date on which the agreement for sale

December 6, 2022

has been entered into

10.

The date of completion of sale/disposal

December 16, 2022

11.

Consideration

received

from

(iii) Re.: 1/-

sale/disposal of (i) equity shares and

(iv) Rs.

255,43,11,978/-

for

(ii) assignment of debt

assignment

of

debt

(paid

in the form of 2,51,78,412

units

of

the

Trust

aggregating

to

Rs.

2,51,78,41,200 /- and cash

of Rs. 31/- after adjusting

auto

debit

of

Rs

3,64,70,747)

12.

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.

13.

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.

14.

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.