Acquisitions20 Nov 2025, 03:34 pm
IL&FS Transportation Networks Ltd. Sells Chenani Nashri Tunnelway Limited to Cube Highways and Infrastructure II Pte. Ltd.
AI Summary
IL&FS Transportation Networks Ltd. has sold 100% of the paid-up capital of Chenani Nashri Tunnelway Limited (CNTL) to Cube Highways and Infrastructure II Pte. Ltd. for a lumpsum consideration of INR 5,429 crore. This sale has resulted in CNTL ceasing to be a subsidiary of the company, with the company's nominee directors resigning and Cube's nominees being appointed as directors on the board of CNTL. In FY 2017-18, CNTL contributed 4.14% of the consolidated revenue of the company. The sale was executed on March 21, 2025, and completed on November 20, 2025.
Key Highlights
- IL&FS Transportation Networks Ltd. has sold 100% of the paid-up capital of Chenani Nashri Tunnelway Limited (CNTL) to Cube Highways and Infrastructure II Pte. Ltd.
- The lumpsum consideration for the transaction is INR 5,429 crore.
- CNTL has ceased to be a subsidiary of the company.
- In FY 2017-18, CNTL contributed 4.14% of the consolidated revenue of the company.
- The sale was executed on March 21, 2025, and completed on November 20, 2025.