il&fs Full Form is Infrastructure Leasing & Financial Services Limited. Infrastructure Leasing & Financial Services, or IL&FS for short, is a financial company that offers various infrastructure-related services.
Infrastructure Leasing: This company specializes in offering financial services related to infrastructure projects. These include project financing, advisory services, and debt syndication.
Financial Services: IL&FS offers a variety of financial services, such as investment banking, asset management and private equity.
Project Development: IL&FS is engaged in the construction of various infrastructure projects such as roads, ports, airports and power plants. As a developer they provide necessary financing for these endeavors.
Public-Private Partnership (PPP): IL&FS has been involved in multiple PPP projects throughout India. The company collaborates with various government agencies to fund infrastructure developments that utilize both public and private funding sources.
Corporate Social Responsibility (CSR): IL&FS is committed to corporate social responsibility and has taken several initiatives in areas such as education, healthcare, and environmental sustainability.
History: Established in 1987 as a joint venture between the Central Bank of India, Housing Development Finance Corporation and Unit Trust of India, IL&FS has since blossomed into one of India’s premier infrastructure development and finance companies.
Corporate Governance: In recent years, IL&FS has been in the spotlight due to its corporate governance problems. In 2018, it defaulted on its debt payments which caused a crisis in Indian financial markets. As a result, the Indian government had to step in and take control of the company and start restructuring proceedings.
Restructuring: IL&FS is currently going through a restructuring process overseen by the Indian government, with the purpose of restoring its financial health and allowing it to continue providing infrastructure development and finance services.
Subsidiaries: IL&FS has several subsidiaries engaged in transportation, renewable energy and real estate. Notable among these are IL&FS Transportation Networks Ltd., IL&FS Energy Development Company Ltd. and IL&FS Financial Services Ltd.
International Presence: IL&FS has a presence in several countries such as the United Kingdom, United Arab Emirates and Oman. Additionally, it has undertaken various international projects like developing a port in Yemen and building a power plant in Nepal.
Overall, IL&FS is an influential player in India’s infrastructure development and finance sector. Despite its recent challenges, IL&FS remains an integral player involved in numerous critical infrastructure projects both domestically and abroad.