Debt-laden IL&FS plans to sell 25 assets to raise Rs 300 billion

The brass of Infrastructure Leasing & Financial Services (IL&FS) held a meeting on Monday to strategise how to bring back the troubled company on track.
 
The company is staring at a mismatch between loan repayments worth Rs 250 billion in the next one year and sagging cash flows.
 
The group’s management is planning to sell 25 assets worth Rs 300 billion and raise an additional Rs 45 billion by way of a rights issue at Rs 150 a share.
 

The fire sale of assets, however, may not receive a good response owing to lack of