In the news
13 Dec 2018

SBI, Axis, IndusInd in race for IL&FS sec arm

SBI, Axis Bank and IndusInd Bank have emerged three key bidders for IL&FS Securities Services (ISSL) and ISSL Settlement & Transaction Services. The securities business, which is understood to be valued at around Rs 1,500 crore, was put on the block by the new board last month.

In the news
13 Dec 2018

Sebi moves against 3 rating agencies over IL&FS fiasco

A Securities and Exchange Board of India (Sebi) investigation of the role of ratings agencies in the Infrastructure Leasing and Financial Services Ltd (IL&FS) crisis found them lacking, chairman Ajay Tyagi said, adding the regulator has now begun adjudicating proceedings against the agencies.

In the news
4 Dec 2018

IL&FS to put 4 more biz units on the block

IL&FS will put on the block four more businesses — IL&FS Education, IL&FS Technologies, ONGC Tripura Power Company and IL&FS Paradip Refinery Water — in coming weeks.

Press release
3 Dec 2018

IL&FS ANNOUNCES N SIVARAMAN AS COO OF IL&FS GROUP

IL&FS today announced the engagement of Mr. N Sivaraman as Chief Operating Officer (“COO”) of the IL&FS Group. Mr. Sivaraman will be responsible for day to day operations and provide hands on leadership and oversight to the Group’s asset monetisation efforts. He will be a part of the Core Operating Committee and report to Mr. Vineet Nayyar, Vice Chairman and Managing Director, IL&FS Group.

Press release
1 Dec 2018

Statement on recent events in Ethiopia

IL&FS Group has been making all round efforts, in coordination with the Ministry of External Affairs (MEA), Government of India and the Indian Embassy in Addis Ababa, to ensure safe and early return of its employees. Meanwhile, as a result of collective and sustained engagement with various authorities, two of the seven employees have been allowed to move out of the camp and are now in Addis Ababa.

In the news
29 Nov 2018

IL&FS initiates steps to sell renewable energy assets

The board of Infrastructure Leasing & Financial Services Ltd (IL&FS) on Wednesday initiated the process of exploring the sale of controlling stake in its renewable energy assets. These assets include operating wind power generating plants with aggregate capacity of 873.5 MW, as well as under-construction wind power generating plants with aggregate capacity of 104 MW, asset management services for the operating wind power generating plants as well as the business division conducting project development and implementation of wind power generating plants.

Press release
28 Nov 2018

IL&FS Initiates Steps for Monetisation of Renewable Energy assets

In order to ascertain market interest, and to examine feasibility of maximization of value in an orderly and transparent manner, the Board, acting on behalf of its relevant subsidiaries, has today initiated the process of exploring the sale of controlling stake(s) (“Stake(s)”) held by IL&FS Group in renewable energy assets / businesses comprising, principally (“Renewable Energy assets”)

In the news
27 Nov 2018

IL&FS plan to sell stake in two arms gets good response

The proposal by Infrastructure Leasing and Financial Services to sell stake in two of its subsidiaries has received strong interest with over a dozen firms submitting their bids. These are now being scrutinised by IL&FS for eligibility.

Press release
26 Nov 2018

IL&FS Asset Monetisation Process - Receives strong interest for its Securities Services Business

Infrastructure Leasing & Financial Services (“IL&FS”) has received a strong response to its asset monetization process, initiated a fortnight ago, towards developing a resolution plan(s) for the IL&FS group. More than a dozen Expressions Of Interest (EOI) towards acquiring IL&FS’ stake in IL&FS Securities Services Ltd. (“ISSL”) and ISSL Settlement & Transaction Services Ltd. (“ISTSL”) have been received, which the Board is scrutinizing for eligibility.

In the news
23 Nov 2018

I-bankers hit the road for IL&FS’s highway, renewable assets sale

Investment banks hired by the board of Infrastructure Leasing and Financial Services Ltd (IL&FS) have started reaching out to potential investors to gauge their interest in the assets.

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