"IL&FS Transportation Completes Sale of Entire Equity Stake in Jorabat-Shillong Expressway"

IL&FS Transportation Networks confirmed the successful sale of its entire equity stake in Jorabat Shillong Expressway Ltd (JSEL) to Sekura Roads for a significant sum of Rs. 1,343 crore. The expressway was previously a wholly-owned subsidiary of IL&FS Transportation Networks.

In a regulatory filing, IL&FS Transportation Networks disclosed that all liabilities of JSEL have been duly adjusted against the enterprise value of Rs. 1,343 crore. The sale, which is not classified as a slump sale, represents a strategic move by IL&FS Transportation Networks.

For the fiscal year 2017-18, Jorabat Shillong Expressway Limited reported a total revenue of Rs. 380.03 crore, inclusive of other income. This figure constituted 3.89% of the consolidated revenue of IL&FS Transportation Networks, which amounted to Rs. 9,778.92 crore during the same fiscal period.

Jorabat Shillong Expressway operates a crucial four-lane highway connecting Jorabat to Shillong on NH-40. This highway plays a pivotal role in linking Shillong, Mizoram, and Tripura with Guwahati, contributing significantly to regional connectivity and transportation infrastructure.

BS