INSUBCONTINENT EXCLUSIVE:
ILFS has a debt burden of over Rs 90,000 crore.
Revealing a three-part strategy, debt-hit
Infrastructure Leasing Finance Services (ILFS) said on Saturday that it needs to have a successful rights issue to recapitalise itself
In August, ILFS's board approved a Rs 4,500-crore rights issue and a Rs 3,000-crore debt-reduction plan through asset sales
ILFS is planning to arrange "liquid allocation to support repayment" till the asset sales cycle begins, said ILFS Vice Chairman Managing
Director Hari Sankaran said at the annual general meeting (AGM)
The three-part strategy of ILFS includes a successful rights issue, ensuring liquidity remains to repay debtors till assets are sold and the
selling of assets to pay back creditors, Mr Sankaran said at the AGM, which was attended by more than two dozen shareholders in Mumbai
