IL&FS gets 19 bids for road assets

MUMBAI: IL&FS today received binding bids for ten road assets in its domestic roads transportation vertical. These 10 road assets account for total debt of over Rs 17,700 crore nearly 19% of total group debt, received 14 binding bids from multiple bidders.

The 10 road assets that received binding bids includes Jharkhand Infrastructure Implementation Company Limited (JIICL) which is in green, five Amber Assets – Jharkhand Road Projects Implementation Company Limited (JRPICL), Moradabad Bareily Expressway Limited (MBEL), Chenani Nashri Tunnelway Limited (CNTL), Hazaribagh Ranchi Expressway Limited (HREL), Jorabat Shillong Expressway Limited (JSEL). JRPICL and MBEL are in the process of being re-classified from Amber to Green on the basis of the restructuring proposals agreed with its lenders