Roadstar Infra Investment Trust Fund managed by Roadstar Infra Private Limited entered into a Share Purchase Agreement to acquire 50% stake in Thiruvananthapuram Road Development Company Limited from IL&FS Transportation Networks Limited (BSE:533177) for INR 400 million on December 6, 2022. Consideration to be received from sale of equity shares is INR 1 and assignment of debt is INR 400.17 million. IL&FS has also assigned its Receivables amounting to INR 1,395,530,017 owed to Thiruvananthapuram Road Development Company Limited (TRDCL) to Roadstar Infra Investment Trust at INR 400,170,570 by executing a Deed of Assignment with Axis Trustee Services Limited (as the Trustees) against which a consideration to the equivalent amount is to be received in the form of units of the Trust.

Roadstar Infra Investment Trust Fund managed by Roadstar Infra Private Limited completed the acquisition of 50% stake in Thiruvananthapuram Road Development Company Limited from IL&FS Transportation Networks Limited (BSE:533177) on December 16, 2022.