IL&FS's InvIT to file fresh papers for Rs 8,500 crore debt

IL&FS's infrastructure investment trust (InvIT) is set to file an updated draft placement memorandum with the Sebi early this month to transfer certain IL&FS assets to the InvIT framework, which will help address up to ₹8,500 crore of the group's debt.

Registered under Sebi's InvIT Regulations as part of a 2020 debt resolution plan of the IL&FS group, this InvIT will consolidate nine road assets and issue its units to creditors against their dues.

IL&FS has so far cleared Rs 38,082 crore of its Rs 99,355 crore external debt in one of India's largest corporate debt crises. As much as 61% of the debt reduction has been done through asset monetisation, debt servicing and interim distributions.


The InvIT will comprise assets from IL&FS Transportation Networks, which collectively have EV of Rs 8,000-8,500 crore.