IL&FS’ environment biz likely to be sold to EverSource Capital; debt may reduce by Rs 1,500 crore
NIIF-backed EverSource Capital is set to take over IL&FS Environmental Infrastructure & Services Limited (IEISL) and its subsidiaries, as the former has emerged the highest bidder for them. The deal is likely to reduce the debt of IL&FS Group by close to Rs 1,500 crore, which is the combined debt of entities under IL&FS’ environment businesses.
EverSource Capital manages Green Growth Equity Fund (GGEF), established with anchor investment from India’s National Investment and Infrastructure Fund (NIIF) and the Department for International Development (DFID), Government of UK. As per sources close in the know, EverSource Capital is the highest bidder for IEISL and its subsidiaries — RDF Power Projects Limited (RDF), East Delhi Waste Processing Company Limited (EDWPCL), Swayam Swachatta Initiative Limited (SSIL) and Dakshin Dilli Swachh Initiatives Limited (DDSIL).
