IL&FS Achieves Milestone with Roadstar Infra Investment Trust Listing

IL&FS has successfully listed Roadstar Infra Investment Trust on NSE, marking a significant advancement in its debt settlement process. This achievement comes after the distribution of InvIT units valued at Rs 8,592 crore, and an interim distribution of Rs 5,000 crore to creditors, furthering IL&FS's debt resolution efforts.

In an impressive advancement in its debt resolution efforts, Infrastructure Leasing & Financial Services (IL&FS) successfully listed its Roadstar Infra Investment Trust units on the National Stock Exchange (NSE) this Tuesday. The listing follows an InvIT distribution valued at Rs 8,592 crore, underscoring IL&FS's strategic prowess in deploying diverse financial instruments to tackle its substantial debt.

This listing is a pivotal moment in IL&FS's debt resolution journey, highlighted by a major interim distribution of Rs 5,000 crore to creditors. Nand Kishore, Chairman and Managing Director of IL&FS Group, emphasized the innovative nature of this resolution strategy, which included Rs 3,500 crore in InvIT units and Rs 1,500 crore in cash, effectively maximizing returns on the company's road assets.

The Roadstar Infra Investment Trust now offers a promising platform for risk-averse investors interested in alternative investments. Managed by Roadstar Investment Managers Ltd, the trust holds a substantial portfolio of road assets spanning 685.16 kms across six Indian states. This marks the latest in a series of strategic moves by IL&FS to achieve its debt settlement objectives, now having discharged Rs 43,000 crore out of its Rs 61,000 crore goal.

(With inputs from agencies.)