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.

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