IL&FS Transportation Networks has signed definitive agreements on August 16, 2018 with Ramky Infrastructure (Ramky) for sale of entire equity stake viz. 11,67,50,000 Equity shares of Rs 10 each representing 50% held in NAM Expressway and acquiring 4,20,00,000 Equity shares of Rs 10 each representing 50% held in Jorabat Shillong Expressway (JSEL). JSEL will now be a wholly owned subsidiary of the Company

The net consideration receivable from the above transaction will be Rs 432.0 million based on the valuation obtained from an Independent Valuer and is not a related party transaction.

Shares of the company gained Rs 1.2, or 3.64%, to trade at Rs 34.20. The total volume of shares traded was 42,474 at the BSE (11.22 a.m., Friday).