IL&FS Initiates Strategic Sale of Roadstar Infra InvIT Platform

13 potential bidders are currently reviewing the ITNL InvIT platform assets. Binding bids for the project are expected by December 1, 2026.

Reader Takeaway: The asset monetization process advances with multiple bidders, marking a key milestone for IL&FS group debt resolution.

What just happened

The New Board of Infrastructure Leasing & Financial Services (IL&FS) has officially moved to sell its economic and management interest in the Roadstar Infra Investment Trust. Axis Capital has been appointed as the financial and transaction advisor to oversee this exit strategy.

Scope of the Sale

The transaction covers a 100% equity stake in three key entities: the Sponsor (Roadstar Infra Private Limited), the Investment Manager (Roadstar Investment Managers Limited), and the Project Manager (Elsamex Maintenance Services Limited). Additionally, the deal includes the sale of 7.33% of the Trust’s units currently held by the Sponsor Group.

Status and Timeline

The formal process commenced on November 13, 2025, when the invitation for Expression of Interest (EOI) was issued. Currently, 13 interested parties are engaged in the due diligence phase. Following this, the process will move toward the submission of binding bids, which are slated for December 1, 2026.

Corporate Governance Compliance

Beyond the sale process, the Trust filed its Corporate Governance Report for the quarter ended September 30, 2026. Management has confirmed that the board composition and its various committees—including the Audit, Nomination & Remuneration, Risk Management, and Stakeholders Relationship Committees—remain fully compliant with SEBI (Infrastructure Investment Trusts) Regulations, 2014. All statutory meetings have been conducted as per regulatory requirements, and previous filings were duly noted by the Board during its August 6, 2026 meeting.