IL&FS has sought Expression of Interest (EoI) for acquiring its entire stake in GRICL Rail Bridge Development Company Ltd. (GRBDCL).
ITNL, a wholly owned subsidiary of IL&FS is the promoter shareholder of GRBDCL and holds 100 per cent of the equity shares of the company. GRBDCL is an under construction BOT asset of ITNL that will develop rail over bridges in Gujarat. IL&FS said that interested and eligible parties would have to submit their EoIs at 5 pm on January 16.
In its recently concluded 32nd AGM and the first under a new board overseen by the government and headed by Uday Kotak, in his maiden address assured shareholders that around Rs. 45,000 crore can be recovered under very complex circumstances. IL&FS owes around Rs. 90,000 crore.
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