Infrastructure Leasing & Financial Services Limited (IL&FS) is an Indian infrastructure development and finance company. Its projects includes the Asia's longest tunnel, Chenani-Nashri Tunnel, which was opened for traffic on 2 April 2017.
History
IL&FS was originally promoted by the Central Bank of India, Housing Development Finance Corporation (HDFC) and Unit Trust of India (UTI). Currently, its institutional shareholders include State Bank of India (SBI), Life Insurance Corporation of India (LIC), ORIX, Abu Dhabi Investment Authority and Greenspring Associates.
A2Z Group has acquired IL&FS Property Management & Services Ltd in a cash and stock deal. The deal to acquire IL&FS Property Management was done through its subsidiary A2Z Infraservices Ltd for a consideration of Rs250Â million. While Rs70Â million cash payment was made to IL&FS Infrastructure Equity Fund and IL&FS Employees Welfare Trust, the infrastructure major has also taken a 20% stake in A2Z Infraservices by way of stock swap. IL&FS Property Management had total revenues of Rs900Â million in FY10.
Group companies
IL&FS has 256 group companies as of 2011, including subsidiaries, joint venture companies and associate entities. Some of them are listed below-
- Infrastructure Services
- IL&FS Infrastructure Development Corporation Limited: advisory and project development
- IL&FS Transportation Networks Limited: involved in the development and implementation of projects related to surface transport (highways, flyovers, bridges and roads)
- IL&FS Environmental Infrastructure & Services Limited
- IL&FS Education and Technology Services Limited (education infrastructure development)
- New Tirupur Area Development Corporation Limited (an SPV to implement the Tirupur Area Development Programme)
- Noida Toll Bridge Company Limited (an SPV to develop, construct, operate and maintain the DND Flyway connecting Delhi with Noida)
- Financial Services
- IL&FS Financial Services Limited (Investment Banking Arm of IL&FS)
- IL&FS Investment Managers Limited (domestic private equity fund management)
- ORIX Auto Infrastructure Services Limited (services related to transport finance and transport infrastructure)
- IL&FS Trust Company Limited - ITCL (Services : * Debenture and Bond Trusteeship * Trusteeship and Investor Representative for Securitised Paper * Services as Security Trustee and Facility Agent * secure document management, sacanning, processing, Records management solution * Para Legal Services)
- Technology Services
- IL&FS Technologies Ltd. (IT Arm of IL&FS group)
IL&FS Technologies Ltd.(known as ITL) is the IT Branch of IL&FS Group.It is a complete end-to-end technology solutions company offering consulting, software development, systems integration, data digitization and management service and solutions, performance tuning solutions and IT infrastructure management services to global customers.
Projects
IL&FS has several projects in different sectors including Transportation, Area Development, e-Governance, Health Initiatives, Cluster Development, Finance, Power, Ports, Water and Waste Water, Urban Infrastructure, Environment, Education, and Tourism.
In 2009, it became the new promoter of the Maytas Infra Ltd. and in January 2011, Maytas Infra was taken over by IL&FS and renamed to IL&FS Engineering and Construction Company Limited In September 2009, it picked up a "significant minority stake" in the Reliance Industries' special economic zone project in Haryana.
The team is behind the construction of Asia's largest and India's first fully integrated tunnel, 9.28 km long Chenani-Nashri Tunnel, located on the route of NH 44 in Jammu and Kashmir. Its work was started on 23 May 2015 and the tunnel has been opened for traffic after the inauguration by Prime Minister Narendra Modi on 2 April 2017. Built on an estimated budget of ₹3,720 crore (US$550 million), the main tunnel is 13 metres in diameter, while the parallel escape tunnel is 6 metres diameter. The main and escape tunnels are connected by 29 cross passages at intervals of every 300 metres. It is the first tunnel in the country with a fully integrated tunnel system. The tunnel will reduce the distance between Jammu and Srinagar by 30.11 km (18.7 mi) and cut travel time by two hours.
References
External links
- IL&FS official website
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