Over 12 players show interest in buying stake in IL&FS securities business

The IL&FS group will shortly be launching the asset monetisation process for the sale of many other assets as part of its ongoing resolution process

Over a dozen players have evinced interest to acquire stakes in two arms of debt-ridden Infrastructure Leasing & Financial Services (IL&FS).

The firms — IL&FS Securities Services Ltd (ISSL) and ISSL Settlement & Transaction Services Ltd (ISTSL) — are part of the asset monetisation process, initiated a fortnight ago, towards developing a resolution plans for IL&FS, the group said.

The board is scrutinising the expressions of interest from banks, private equity firms and financial sector entities. 

In the next step, IL&FS will give access to business information to the qualified interested bidders to enable them to submit commercial bids. The IL&FS