IL&FS To Sell 15% Stake in Roadstar InvIT To Cut Debt

23 Sep 2025 CW Team

Debt-ridden Infrastructure Leasing & Financial Services (IL&FS) has decided to sell its entire 15 per cent residual stake in Roadstar Infra Investment Trust (InvIT) to reduce liabilities. Axis Bank has been appointed to identify potential buyers for the 15.1 per cent holding.

A spokesperson from IL&FS Group said, “Sale of IL&FS' 15 per cent stake in Roadstar InvIT is a key part of the Group’s resolution initiative and approved framework. Steps, including appointing consultants and intermediaries, will be taken in due course.”

Earlier in March 2025, IL&FS had listed Roadstar InvIT units on the NSE as part of its debt restructuring. Roadstar Infra Investment Trust, sponsored by Roadstar Infra, is registered under InvIT regulations and aims to own, operate, and invest in infrastructure projects in India.

The InvIT holds six road assets across six states—Maharashtra, Rajasthan, Uttar Pradesh, West Bengal, Jharkhand, and Kerala—covering a total of 685 km. The portfolio includes Moradabad Bareilly Expressway Ltd, Sikar Bikaner Highway Ltd, Pune Sholapur Road Development Company Ltd, Barwa Adda Expressway Ltd, Thiruvananthapuram Road Development Company Ltd, and Hazaribagh Ranchi Expressway Ltd.

Of the six assets, four operate under the National Highways Authority of India (NHAI) concession framework (three toll, one annuity), one is a toll asset under the Ministry of Road Transport and Highways, and one is an annuity project under the Kerala Road Fund Board. All assets are operational except Barwa Adda Expressway Ltd, which was 94 per cent complete as of January 2025. Sikar Bikaner Highway Ltd is pending final COD, awaiting punch-list completion and certification.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..