IL&FS sells environment business to EverSource, reduces debt by Rs 1,200 crore
Apr 2021 Other
Mumbai (Maharashtra) [India], Apr 7 (ANI): IL&FS has sold its stake in environment business to EverEnviro Resource Management, a 100 per cent owned subsidiary of Green Growth Equity Fund (GGEF) managed by EverSource Capital.
IL&FS, as the promoter of IL&FS Environmental Infrastructure and Services Ltd (IEISL), held 97.54 per cent of equity shares. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management.