IL&FS puts two arms on the block to boost recoveries
IL&FS group has put its two subsidiaries, IL&FS Investment Managers Limited (IIML) and IL&FS Securities Services (ISSL), on the block. The debt-laden group is looking to sell its entire 50.42% stake in IIML, a private equity fund management firm having a market capitalisation of nearly Rs 400 crore. The group has also revived talks to sell its securities services subsidiary ISSL.
“Asset monetisation is an integral and important part of the approved IL&FS group resolution framework. Sale of stake in these assets is a step towards implementing that framework,” said the spokesperson of IL&FS group.
