Over 30 suitors queue up for IL&FS road assets
Photo Credit: Pexels

India's heavily indebted Infrastructure Leasing & Financial Services (IL&FS) said on Wednesday it has received more than 30 expressions of interest for IL&FS Transportation Networks Ltd's (ITNL) domestic road business.

"Interest has been received from a mix of strategic and financial players," IL&FS said in a statement.

ITNL is the biggest subsidiary of IL&FS and manages some of the group's most valuable assets such as road projects.

IL&FS, an infrastructure and finance company which has debts of Rs 91,000 crore ($12.9 billion), has been trying to sell assets to repay debt after several defaults forced the government to overhaul its management last year.

India's central bank has asked IL&FS's lenders to classify loans extended to the company as non-performing, two sources told Reuters on Tuesday.

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