IL&FS plans Rs. 5,000cr for road sector

    ILFS Road Sector
    Infrastructure Leasing and Financial Services Ltd (IL&FS) in a recent move has decided to generate Rs 5,000-cr through various group companies within the next six months, said, managing director, Ramesh Bawa. While announcing the recent development with the Canadian investor, he said that IL&FS plans to raise up to $700 million via an infrastructure investment trust (InVIT), which are trusts that manage income-generating infrastructure assets, typically offering investors regular yields and a liquid method of investing in infrastructure projects. Developers can use the long-term funds raised to unlock value in completed projects or repay debt associated with them. The IL&FS Transportation Networks Ltd (ITNL) had initiated the process of listing its road assets as an InvIT as IL&FS held 70.79% stake in ITNL as on 30 June when the latter has 30 road projects, of which 13 are operational and another five to six projects are likely to become operational very shortly.
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