Private sector lender, ICICI Bank increased its stake in IL&FS Engineering and Construction by 5.36% for Rs 29 crore. The bank acquired the shares post restructuring through the CDR mechanism.
Earlier, ICICI Bank had 1.49% stake or 11.61 lakh shares in the company. After the transaction held on October 1, the bank now has 6.85% stake or 59.71 lakh shares.
IL&FS Engineering and Construction Company is engaged in infrastructure development, construction and project management. The company has undertaken projects in segments such as roads/ expressways/ highways, buildings and industrial structures, irrigation canals and dams and thermal and hydel power.
