Acquisitions20 Nov 2025, 04:44 pm
IL&FS Completes Share Transfer of Marquee Chenani Nashri Tunnelway Limited to Cube Highways for Rs 6,145 Crore
AI Summary
Infrastructure Leasing and Financial Services Limited (IL&FS) has successfully completed the transfer of shares of Chenani Nashri Tunnelway Limited (CNTL) to Cube Highways & Infrastructure 1l Pte. Ltd. (Cube) at an aggregate consideration of approximately Rs 6,145 crore. This deal marks an important milestone for IL&FS Group in its resolution efforts, with the total group debt discharged crossing Rs 48,000 crore. CNTL is among the largest assets to be resolved under IL&FS fold, providing recovery ranging from 98 per cent to 124 per cent to group of lenders.
Key Highlights
- IL&FS completes share transfer of Chenani Nashri Tunnelway Limited (CNTL) to Cube Highways & Infrastructure 1l Pte. Ltd. (Cube) for approximately Rs 6,145 crore.
- The deal marks an important milestone for IL&FS Group in its resolution efforts, with the total group debt discharged crossing Rs 48,000 crore.
- CNTL is among the largest assets to be resolved under IL&FS fold, providing recovery ranging from 98 per cent to 124 per cent to group of lenders.
- Key lenders to CNTL include State Bank of India, Canara Bank, Deutche Bank, Indian Bank, Jammu and Kashmir Bank, Federal Bank, Indian Overseas Bank, Syndicate Bank and UCO Bank.
- The completion of this sale reaffirms the new IL&FS Boards commitment to protecting the interests of creditors, public institutions, and stakeholders; delivering time-bound asset monetization and value maximization, reducing overall group debt, in line with the approved resolution framework.