{"id":4712,"date":"2019-04-10T07:32:52","date_gmt":"2019-04-10T07:32:52","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4712"},"modified":"2019-04-10T07:59:06","modified_gmt":"2019-04-10T07:59:06","slug":"gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/","title":{"rendered":"Gail India may be the new buyer for energy assets of IL&#038;FS, says report"},"content":{"rendered":"<p style=\"text-align: justify;\">State-owned Gail India is one of the few firms waiting eagerly to buy the energy assets of crisis-ridden Infrastructure Leasing and Financial Services (IL&amp;FS),\u00a0<em>The Economic Times<\/em>\u00a0reported.<\/p>\n<p style=\"text-align: justify;\">The assets could be worth around Rs 6,000 crore for IL&amp;FS and will hold a controlling stake in the wind power plants that have an aggregate capacity of 873.5 MW. The once under construction will have a combined capacity of 104 MW, the report said citing two people with knowledge of the matter.<\/p>\n<p style=\"text-align: justify;\">A source close to the development told Economic Times that Gail India is the front-runner to buy energy assets while Japanese investor Orix reserves the right of refusal to buy the stake if the valuation falls below a particular price.<\/p>\n<p style=\"text-align: justify;\">There were 24 firms that submitted (EoIs), Tata Power, Adani Power and JSW Energy being the ones among them.<\/p>\n<p style=\"text-align: justify;\">Though the company received 22 expressions of interest from investors, including Global Infra partners, KKR, Brookfield, I Squared Capital and Macquarie, the response in terms of binding bids were poor, as per the report.<\/p>\n<p style=\"text-align: justify;\">The approximate value of the asset is around Rs 6,000 crore and the deal will help pare debt by Rs 5,000 crore, sources told the paper.<\/p>\n<p style=\"text-align: justify;\">Gail is targeting to increase its installed capacity of 128 MW of wind power through mergers and acquisitions. They are also bidding for commercially-viable tariff-based and viability gap funding-based green power projects.<\/p>\n<p style=\"text-align: justify;\">IL&amp;FS, to combat its Rs 94,000 crore debt, is going to use renewable portfolio disvestment as its asset-monetisation strategy.<\/p>\n<p style=\"text-align: justify;\">IL&amp;FS&#8217; energy assets hold a steady Rs 8,000 crore. The group&#8217;s board of directors said chalked out a plan to sell assets in education, roads, broking, etc.<\/p>\n<p style=\"text-align: justify;\">Though the company received 22 expressions of interest from investors, including Global Infra partners, KKR, Brookfield, I Squared Capital and Macquarie, the response in terms of binding bids has been poor, said the report.<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>State-owned Gail India is one of the few firms waiting eagerly to buy the energy assets of crisis-ridden Infrastructure Leasing and Financial Services (IL&amp;FS),\u00a0The Economic Times\u00a0reported. The assets could be worth around Rs 6,000 crore for IL&amp;FS and will hold a controlling stake in the wind power plants that have an aggregate capacity of 873.5 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3702,3701,3671],"class_list":["post-4712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-asset-monetisation","tag-gail-india","tag-ilfs"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gail India may be the new buyer for energy assets of IL&amp;FS, says report - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gail India may be the new buyer for energy assets of IL&amp;FS, says report - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"State-owned Gail India is one of the few firms waiting eagerly to buy the energy assets of crisis-ridden Infrastructure Leasing and Financial Services (IL&amp;FS),\u00a0The Economic Times\u00a0reported. The assets could be worth around Rs 6,000 crore for IL&amp;FS and will hold a controlling stake in the wind power plants that have an aggregate capacity of 873.5 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Finance Intellect\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-10T07:32:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-10T07:59:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/financeintellect.com\/wp-content\/uploads\/2018\/07\/oil.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Team Finance Intellect\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Finance Intellect\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\"},\"author\":{\"name\":\"Team Finance Intellect\",\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/#\/schema\/person\/8b5a59fca13673b990c789631416f48e\"},\"headline\":\"Gail India may be the new buyer for energy assets of IL&#038;FS, says report\",\"datePublished\":\"2019-04-10T07:32:52+00:00\",\"dateModified\":\"2019-04-10T07:59:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\"},\"wordCount\":324,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/financeintellect.com\/wp-content\/uploads\/2018\/07\/oil.jpg\",\"keywords\":[\"asset monetisation\",\"Gail India\",\"IL&amp;FS\"],\"articleSection\":[\"India Inc\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\",\"url\":\"https:\/\/financeintellect.com\/home-page\/home\/gail-india-may-be-the-new-buyer-for-energy-assets-of-ilfs-says-report\/\",\"name\":\"Gail India may be the new buyer for energy assets of IL&FS, says report - 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