IL&FS sells entire stake in Warora Chandrapur Highway; resolves Rs 324 cr of debt

Debt-ridden Infrastructure Leasing and Financial Services (IL&FS) on Friday said it has completed sale of its 35 per cent stake in Warora Chandrapur Ballarpur Toll Road Ltd (WCBTRL) to its majority joint venture partner Vishvaraj Infrastructure Ltd (VIL).

The sale entails VIL taking over entire external debt of WCBTRL amounting to Rs 306 crore, providing equity value of over Rs 12 crore and settling IL&FS Group dues amounting to Rs 6 crore.