Highlight Investment Research is an independent and privately owned organization, has come a long way and today has emerged as a premium Indian stock & commodities consultancy, with an absolute focus on business and a commitment to provide “Real value for money to all its clients”.
Indian shadow banker Infrastructure Leasing & Financial Services (IL&FS) has defaulted on more than five of its obligations since August. Thus, it is seeking to raise over $4.2bn by selling its assets, as per news reports.
The report added that the company that is categorized as a “systematically important” NBFC by the RBI, plans to sell 25 assets. What’s more, its already received investor interest for 14 of them.
Meanwhile, there is wariness that defaults by IL&FS, which has a total debt of $12.6bn, that is, 61% through loans from financial institutions, could spread to other shadow banks.
In other news, Japan’s Orix Corporation, which owns a 23.5% stake in the beleaguered IL&FS is keen to acquire a majority stake in the infrastructure development and finance company.
No comments