IL&FS needs $2 billion by March 2019 to meet its financial requirements

IL&FS will require more money to repay secured borrowers

Beleaguered infrastructure financier Infrastructure Leasing & Financial Services (IL&FS) will require infusion of at least about Rs 148 billion ($2 billion) by March next year to meet its financial requirements, said a source privy to recent developments. Most of this will be met with a combination of asset sale and infusion by shareholders.

Earlier, IL&FS was planning to raise Rs 45 billion via a rights issue and another Rs 30 billion as loan from its two shareholders — Life Insurance Corporation of India (LIC) and State Bank of India