IL&FS Financial Services (IFIN) has proposed to auction off its external corporate loan book worth about Rs 5,000 crore through a bid process, in an attempt to reduce the overall debt of the IL&FS group. <\/p>\n
The process will be launched this week, a source in the know of the development said. As of March 2019, the assets under management of IFIN stood at Rs 18,000 crore, which includes external, internal loans and internal investments. <\/p>\n
The company is yet to declare its results for financial year 2019-20. <\/p>\n
The sale of the loans would be on cash consideration. <\/p>\n
The company\u2019s external corporate loan book includes loans to over 70 companies that have become non-performing assets (NPAs).<\/p>\n","protected":false},"excerpt":{"rendered":"
IL&FS Financial Services (IFIN) has proposed to auction off its external corporate loan book worth about Rs 5,000 crore through a bid process, in an attempt to reduce the overall debt of the IL&FS group. The process will be launched this week, a source in the know of the development said. As of March 2019, the assets under management of IFIN stood at Rs 18,000 crore, which includes external, internal loans and internal investments. The company is yet to declare its results for financial year 2019-20. The sale of the loans would be on cash consideration. The company\u2019s external corporate […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-385158","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=385158"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/385158\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=385158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=385158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=385158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}