IL&FS Transportation Networks Limited — Important, 17-02-2025: Updates

IL&FS Group has initiated an interim distribution of Rs 5,000 crore, comprising Rs 3,500 crore in Infrastructure Investment Trust (InvIT) units and Rs 1,500 crore in cash, to eligible creditors. This move is part of the Group's ongoing resolution efforts, substantially contributing to the discharge of approximately Rs 43,000 crore of the Group's debt, capturing over 70% of the total estimated debt resolution target of Rs 61,000 crore.

The InvIT, established to enhance asset recovery, holds six road assets with a total enterprise value of Rs 8,576 crore. Significant institutions, including Bank of Baroda, SBI, and various public funds, will be among those benefiting from this payout. This initiative demonstrates a positive outlook for the creditors, providing timely fund releases crucial for their financial health and signaling the Group's commitment to resolving its liabilities progressively.