Saturday, March 15, 2025

Creating liberating content

English Romantic poets knew their way around words, almost as

A Pakistan International Airlines (PIA) domestic flight landed at Lahore

Belly fat reduction is achievable through multiple pathways. While imperative,

Related News

English Romantic poets knew their way around words, almost as if they were the tellers of the heart. From the innocence of love to the epitomes of beauty, they defined

A Pakistan International Airlines (PIA) domestic flight landed at Lahore airport with a missing wheel, as confirmed by an official. The incident occurred during Thursday morning’s landing.The PIA flight PK-306,

Belly fat reduction is achievable through multiple pathways. While imperative, exercise isn’t the only route to weight loss, which offers hope to those who may be unable or unwilling to

Maharani Gayatri Devi of Jaipur was the epitome of grace, beauty, and effortless style. Whether it was her signature pastel chiffons or her regal pearl necklaces, she embodied a sophistication

The first stage of SpaceX’s Falcon 9 rocket has successfully completed its descent as its booster made a precise landing at the company’s Landing Zone 1 at Cape Canaveral Space

Photo: Bright Side/ YouTube Optical illusion personality tests have become very popular among people these days. As the name suggests these are weird images that trick the eyes. These images

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