ILandFS Trans sells 15% stake in Gujarat Road & Infra; rises 5%

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26 Aug, 2025 12:21

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Moneycontrol BureauShare prices of ILandFS Transportation Networks added 5 percent intraday Thursday as it has sold its stake in Gujarat Road & Infra to MAIF Investments.The company has signed definitive agreement with MAIF Investments India Pte. for sale of 15 percent stake (83,13,800 equity shares) in Gujarat Road and Infrastructure Company (GRICL) at an aggregate consideration of Rs 1,097,868,850."Post the closure of the deal, MAIF will hold 56.8 percent of the equity capital of GRICL whereby the company will cease to have management control of GRICL but will continue to hold equity shares representing 26.8 percent of the paid up equity share capital of GRICL," as per company release.At 09:42 hrs ILandFS Transportation Networks was quoting at Rs 69.50, up Rs 0.25, or 0.36 percent on the BSE.Posted by Rakesh Patil