After announcing the sale of these two arms, the IL&FS Group is now left with maritime, water and wastewater, urban asset management, environment and skill development businesses
Crisis-hit lender Infrastructure Leasing & Financial Services (IL&FS) has now put its education and alternative investment fund management businesses on the block.
The group announced on Thursday it has called for Expressions of Interest (EoI) to monetise IL&FS Education & Technology Services Ltd and its subsidiaries as well as IL&FS Investment Managers Ltd along with all the associated fund management platforms and sponsor commitments relating to a few of the funds.
After announcing the sale of these two arms, the IL&FS Group is now left with maritime, water and wastewater, urban asset management, environment and skill development businesses.
In the last two months, the debt-ridden firm has put IL&FS Securities Services Ltd and ISSL Settlement & Transaction Services Ltd on the block, for which it received over a dozen bids. This was followed by EoIs being called for renewable energy assets.
Earlier this month, the company also put up a notice to sell 36 luxury cars including Audi, Mercedes Benz, Lexus, Honda, Land Rover, BMW, Jaguar, Toyota and Skoda as well as road assets of IL&FS Transportation Networks.
IL&FS Education & Technology Services Ltd provides ed-tech services to K-12 schools and students through its proprietary digital content, devices, platforms and solutions, as well as offers job linked vocational skills programmes for the youth. Besides managing 16,000 schools in 11 states, it also operates computer labs in government schools on a build-own-operate basis. Internationally, they are present in 17 countries across the Middle East and North Africa and South and South-East Asia.
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