Saturday, March 15, 2025

Creating liberating content

Another excellent affirmation, one that is bold and powerful, is

Related News

Sanjana Ganesan and Jasprit Bumrah (Instagram Photo) NEW DELHI: Jasprit Bumrah and Sanjana Ganesan celebrated their fourth wedding anniversary on Friday, March 15, 2025, with a heartfelt exchange of love.

Actor Govinda recently revealed that he rejected the billion-dollar franchise ‘Avatar’ for which he was worth Rs 18 crore citing a medical reason. In an interview with actor Mukesh Khanna,

Vice President JD Vance expressed optimism on Friday that a deal to sell TikTok and keep it operating in the US would be finalised by the April 5 deadline, according

Another excellent affirmation, one that is bold and powerful, is this one. ‘Na Kadapi Khanditah’ means ‘I can never be broken’, and is the perfect affirmation to build confidence in

Ranjani Srinivasan, an Indian doctoral student at Columbia University, has left the United States after her visa was revoked for alleged support of Hamas.The US Department of Homeland Security (DHS)

Lahore: A Pakistan International Airlines (PIA) domestic flight landed on the Lahore airport with one of its wheels missing, an official said on Friday. However, no untoward accident was reported

Trending News

BENGALURU: Wipro has realigned its global business lines (GBLs) to expand its go-to-market capabilities to meet clients’ business needs in emerging technologies driven by AI, cloud, and digital transformation. Wipro

Hon Hai Precision Industry Co. posted a surprise earnings fall after weak Chinese iPhone sales eroded margins, though the Nvidia Corp. supplier forecast a doubling in AI-related revenue this quarter.The

BENGALURU: Infosys McCamish Systems (IMS), a subsidiary of Infosys BPM, has agreed to put $17.5 million into a fund to settle pending class-action lawsuits and resolve allegations following a cybersecurity

NEW DELHI: Elon Musk-led Tesla Inc. initiated the process for the certification and homologation of two of its electric cars in India, which is an essential requirement for all vehicles

NEW DELHI: Chartered accountants’ apex body ICAI may review the financial statements of IndusInd Bank, which is grappling with discrepancies in accounting estimated to be Rs 2,100 crore. The private

NEW DELHI: LG Electronics India, a subsidiary of the South Korean chaebol LG, has received markets regulator Sebi’s approval for its Rs 15,000 crore initial public offering (IPO), people familiar

IL&FS Group to repay creditors Rs 5,000 crore in InvIT, cash

Word Count: 632 | Estimated Reading Time: 4 minutes


IL&FS Group to repay creditors Rs 5,000 crore in InvIT, cash

MUMBAI: IL&FS Group has announced a Rs 5,000 crore payout to creditors of the bankrupt infrastructure conglomerate as part of its ongoing debt resolution efforts. The distribution consists of Rs 3,500 crore in Infrastructure Investment Trust (InvIT) units and Rs 1,500 crore in cash, primarily targeting large creditors and public funds. This payout is being led by three holding companies-IL&FS, IL&FS Financial Services (IFIN), and IL&FS Transportation Networks (ITNL)-which hold the majority of the group’s debt.
Banks and institutions receiving units/cash include Bank of Baroda, Canara Bank, SBI, ICICI Bank, DBS, LIC MF, and IndusInd Bank. Public funds benefiting from the distribution include Post Office Life Insurance Fund, NPS Trust, LIC P&G Fund, SBI Employee Provident & Pension funds, Infosys EPF Trust, Army Group Insurance Fund, DAV College Trust (EPF), Coal Mines Provident Fund, National Insurance Provident and Pension funds, and NTPC Provident and Pension funds.

-

The InvIT units are linked to six road assets under Roadstar Infra Investment Trust, which holds an enterprise valuation of Rs 8,576 crore. These assets include MBEL, SBHL, PSRDCL, BAEL, TRDCL, and HREL. The units are being distributed through a private placement, followed by a listing in accordance with SEBI regulations. The distribution will improve recovery rates for creditors of these assets, including IL&FS, IFIN, ITNL, and Sabarmati Capital One. Once completed, the payout will reduce IL&FS Group’s outstanding debt to around Rs 43,000 crore, or over 70% of its total debt resolution target of Rs 61,000 crore.
Including past payouts, the total interim distribution will exceed Rs 17,000 crore, which includes the Rs 3,500 crore in InvIT units. “This payout marks an important milestone for the Group,” said Nand Kishore, CMD of IL&FS Group.
The record date for the allocation of InvIT units and cash is set for Feb 17, 2025.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account