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Of the targeted ₹61,000 crore debt resolution by the fiscal-end, IL&FS has resolved ₹52,200 crore of the same by October-end and will address ₹4,800 crore more through the course of the year, Uday Kotak said
Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Thursday announced completion of 49 per cent stake sale in its Chinese road asset - Chongqing Yuhe Expressway Co Ltd (CYEC). The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants, a release from IL&FS Group said. The transaction will help the group address Rs 2,600 crore of its overall debt of close to Rs 99,000 crore (as of October 2018). The group, through its step-down Singapore-based subsidiary...