IL&FS' headquarters at Mumbai's BKC has been sold to Brookfield for ₹1080 crore. The Letter of Intent given to Brookfield & asset will be handed over later this year.
During a press conference, IL&FS said its total debt was ₹99,355 crore across 347 entities when the new board took over in 2018. But it has managed to resolve ₹55,000 cr debt overall by 31 March, 2022.
“Overall estimated debt that we target to resolve stands at 61,000 crore or 62% debt of 2018 debt."
The company further elaborated that ₹21,000 cr has been discharged by the way of asset monitisation. And, ₹20,000 through cash and InvIT.
Also, transaction closure is underway for ₹7,500 crore while ₹6,500 cr is awaiting judicial approvals.
