IL&FS Financial to auction off Rs 5K cr corporate loans
IL&FS Financial Services (IFIN) has proposed to auction off its external corporate loan book worth about Rs 5,000 crore through a bid process, in an attempt to reduce the over-all debt of the IL&FS group. The process will be launched this week, a source in the know of the development said. As of March 2019, the assets under management of IFIN stood at Rs 18,000 crore, which includes external, internal loans and internal investments. The company is yet to declare its results for financial year 2019-20.