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IL&FS Receives Binding Bids for 10 Domestic Road Assets

Infra News - Published on Fri, 13 Sep 2019

Image Source: the_economic_times
IL&FS has received binding financial offers aggregating close to INR 13,000 crore for 10 Domestic Road Assets. These bids were opened on September 9, 2019. In addition to the above, IL&FS Group entities continue to hold rights to receive claims with Gross Value exceeding INR 1,900 crore, filed with various concession authorities in respect of these assets. The combined value of bids and these claims will help address the cumulative financial debt of INR 17,700 crore, as of October 2018, in these assets.

However, the IL&FS Board is evaluating these offers in consultation with its advisors. This development represents yet another important milestone in the overall resolution process for IL&FS Group being undertaken by the New Board.

Source :

Posted By : Ratan Singh on Fri, 13 Sep 2019
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