IL&FS Infrastructure Investment Trust ( IL&FS InvIT) has commenced business with acquisition of first road asset — Moradabad-Bareilly Expressway Ltd.
The final consideration for sale of shares is Rs 576.77 crore and adjusted final consideration for assignment of receivables is Rs 14.26 crore.
This transaction is based on final valuation and adjustments as stated in the Share Purchase Agreement (SPA).
IL&FS Transportation Networks Ltd, in a stock exchange filing, said the company has received the final consideration in the form of 59.04 million units of Rs 100 each issued by the InvIT and Rs 59 in cash and transferred the shares of MBEL to the account of Roadstar (InvIT) on December 24, 2021.
