IL&FS Transportation Networks announced on Thursday that it has sold its entire equity stake in Jorabat Shillong Expressway Ltd (JSEL) to Sekura Roads for Rs 1,343 crore. JSEL was a wholly-owned subsidiary of IL&FS Transportation Networks. The sale of the equity stake by the company is not a slump sale.
Jorabat Shillong Expressway operates a four-lane highway that connects Shillong, Mizoram, Tripura, and Guwahati. IL&FS Transportation Networks stated that the liabilities of JSEL have been adjusted against the enterprise value of Rs 1,343 crore.
During the 2017-18 fiscal year, Jorabat Shillong Expressway Limited generated a total revenue of Rs 380.03 crore (including other income), which accounts for 3.89% of the consolidated revenue of Rs 9,778.92 crore for the company during that period.
Read More: [IL&FS Transportation sells entire equity in Jorabat Shillong Expressway for Rs 1,343 crore](https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/ilfs-transportation-sells-entire-equity-in-jorabat-shillong-expressway-for-rs-1343-cr/articleshow/105269503.cms)
