Cash-strapped IL&FS Group will receive first set of bids under asset monetization process on Monday as part of resolution process, according to sources.
The company’s board will later consider bids for Rs8,000 crore renewable energy business that was put on the block in November 2018, the sources said.
This will be the first set of bids that will be opened under asset monetization process as part of resolution process by government-appointed and Uday Kotak-led new board, they added.
The group, which is sitting on the debt of about Rs94,000 crore debt, had decided to sell assets in various verticals, including roads, education, renewable energy, and broking in November last year.
