Cash-strapped IL&FS Group will receive first set of bids under asset monetisation process on Monday as part of resolution process, according to sources. The company’s board will later consider bids for Rs 8,000 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 monetisation 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 Rs 94,000 crore, had decided to sell assets in various verticals, including roads, education, renewable energy, and broking in November last year.
