A payment worth Rs 110 crore has been received by IL&FS Transportation Networks from sale of its 15 percent stake in Gujarat Road and Infrastructure Company.

IL&FS Transportation Networks has announced the deal of selling 15 percent stake during last month.

The company has said in a BSE filing that MAIF remitted Rs 109.78 crore as part of purchase of 15 percent stake in Gujarat Road and Infrastructure Company.

IL&FS Transportation Networks has said that “MAIF Investments India Pte has on June 15, 2016 remitted the consideration of Rs 109,78,68,850/- towards sale of 83,13,800 equity shares of Rs 10 each by the Company in Gujarat Road and Infrastructure Company Limited representing 15 percent of paid up equity capital of GRICL.”

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