Essel Group picks up 10.19% stake in IVRCL

Essel Group has acquired 10.19% stake in infrastructure and construction company-IVRCL- a move that would boost the diversified entity's presence in the fast-growing infrastructure space. The Essel Group sees exciting business possibilities to expand its infrastructure portfolio through this investment.

Essel Group operates in the infrastructure space through Essel Infra. It has an order book of Rs 27,000 crore in infrastructure business and the consolidated turnover is about Rs 1,250 crore with six operational projects in India. Essel Group also has presence in packaging, theme parks, wellness services and education.

IVRCL Infrastructures & Projects 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.