IL&FS sells its 35% stake in WCBTRL, resolves Rs 324 cr group debt
IL&FS Group on Friday said it has completed the sale of its 35 per cent stake in Warora Chandrapur Ballarpur Toll Road Limited (WCBTRL).
Accordingly, the stake was sold to IL&FS’ majority joint venture partner Vishvaraj Infrastructure Limited (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 – thereby resolving Rs 324 crore from the overall IL&FS Group debt of approx. Rs 99,000 crore, as of October 2018,”
“The Group had already received requisite approvals from the ITNL CoC, Supreme Court Justice (retd) D.K. Jain and Hon’ble NCLT to complete the transaction.”
