IL&FS shareholder make this big move that may save company
On Sunday, India`s troubled Infrastructure Leasing and Financial Services Ltd (IL&FS), whose recent defaults have roiled Indian markets, said its shareholders have approved a plan allowing it to raise fresh funds through debt and equity issuances.
IL&FS has previously said it has seen interest from buyers for 14 of its 25, largely road, assets, and it plans to raise up to 30 billion rupees via this route. Image Source: Reuters