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IL&FS receives binding offer for IEDCL, invites more EoIs

IL&FS has invited Expressions of Interest (EoI) for the sale of its energy advisory business undertaking of IL&FS Energy Development Company Ltd (IEDCL).

The crisis-hit infrastructure lending major has already received a binding offer which will be subject to bid process akin to the ‘Swiss Challenge Method’, IL&FS said in an advertisement seeking EoIs.

IL&FS and IL&FS group collectively hold 95.54 per cent of the total issued and paid-up equity share capital of IEDCL.

It said that the energy advisory business undertaking of IEDCL has extensive experience in development of generation (conventional and non-conventional), transmission and distribution projects for both, third party clients and in-house projects.

Eligible applicants have been asked to submit EoI by 5 p.m., December 7.

Source
ET Energy World
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