NCLT allows IL&FS to sell road projects through InvIT
ROADS & HIGHWAYS

NCLT allows IL&FS to sell road projects through InvIT

Infrastructure Leasing and Financial Services (IL&FS) has received approval from the National Company Law Tribunal (NCLT) to sell road projects of its Transportation Networks via Infrastructure Investment Trust (InvIT).

After the approval, the company will be able to issue units of InvIT to the major lenders, such as the State Bank of India (SBI), Punjab National Bank, Canara Bank, Bank of India and Indian Overseas Bank.

InvIT had already received the final registration from the Securities and Exchange Board of India (SEBI). The road projects sold via InvIT will address the group's debt of Rs 9,214 crore. A spokesperson of IL&FS said that the valuation represents a significant recovery from the creditors of special purpose vehicles (SPVs) and the companies who provided debt to these SPVs.

The banks have written their debt to the IL&FS group because it was classified as a non-performing asset.

The InvIT has six road projects, including Barwa Adda Expressway, Baleshwar Kharagpur Expressway, East Hyderabad Expressway, Sikar Bikaner Highway, Moradabad Bareilly Expressway and Jharkhand Road Projects Implementation Company.

The Rs 9,214 crore project was devised by an independent valuer appointed as per SEBI's regulations for InvIT. IL&FS has proposed to complete over Rs 16,000 crore through InvIT. NCLT's approval for the phase-1 project is a part of the process, and in the second phase, InvIT added five more road assets.

Image Source


Also read: IL&FS sells 49% stake in Chinese road asset

Infrastructure Leasing and Financial Services (IL&FS) has received approval from the National Company Law Tribunal (NCLT) to sell road projects of its Transportation Networks via Infrastructure Investment Trust (InvIT). After the approval, the company will be able to issue units of InvIT to the major lenders, such as the State Bank of India (SBI), Punjab National Bank, Canara Bank, Bank of India and Indian Overseas Bank. InvIT had already received the final registration from the Securities and Exchange Board of India (SEBI). The road projects sold via InvIT will address the group's debt of Rs 9,214 crore. A spokesperson of IL&FS said that the valuation represents a significant recovery from the creditors of special purpose vehicles (SPVs) and the companies who provided debt to these SPVs. The banks have written their debt to the IL&FS group because it was classified as a non-performing asset. The InvIT has six road projects, including Barwa Adda Expressway, Baleshwar Kharagpur Expressway, East Hyderabad Expressway, Sikar Bikaner Highway, Moradabad Bareilly Expressway and Jharkhand Road Projects Implementation Company. The Rs 9,214 crore project was devised by an independent valuer appointed as per SEBI's regulations for InvIT. IL&FS has proposed to complete over Rs 16,000 crore through InvIT. NCLT's approval for the phase-1 project is a part of the process, and in the second phase, InvIT added five more road assets. Image SourceAlso read: IL&FS sells 49% stake in Chinese road asset

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement