At least six investors that include I Squared Capital, Canada’s CDPQ, NIIF, Brookfield, Edelweiss and Lone Star are understood to be conducting due diligence ahead of submitting their bids for 18 road assets of IL&FS, a source aware of the developments told FE.
The bids are likely to start coming in by mid-July and should not go beyond mid-August, the source indicated, adding that these assets if sold would likely fetch a valuation of around `20,000 crore. Emails sent to the aforesaid names remained unanswered till the time of going to press.
Of the 18 assets, completed projects of IL&FS — Pune-Solapur, Hazaribagh-Ranchi and a bouquet of assets under Thiruvananthapuram City Roads and Road Infrastructure Development Company of Rajasthan (Ridcor) — are said to be garnering more interest from investors, according to the source.
