IVRCL has received its board’s approval to split its engineering procurement construction (EPC) and assets - land and build-operate-transfer (BOT) - businesses - to float two separate companies. The company felt that the spinning off of EPC business would enable investment by potential equity investors.
Earlier on December 1, the company said that in the joint lenders forum (JLF) held on November 26, 2015, the lenders invoked strategic debt restructuring (SDR) in the company.
IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.
