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IVRCL to sell stake in Chennai Water Desalination: Report

03 Apr 2013 Evaluate

IVRCL is reportedly planning to sell stake in its arm Chennai Water Desalination. The company will complete the stake sale in its subsidiary within six month. It holds 90% stake in the Chennai Water Desalination.

Recently, the company signed a Definitive Agreements with the TRIL Roads (TRPL) to divest its stake in Salem Tollways (STL), Kumarapalayam Tollways (KTL) and IVRCL Chengapally Tollways (ICTL) with the total project cost of Rs 2,200 crore.

Peers
Company Name CMP
Larsen & Toubro 3819.50
Kalpataru Projects 1393.70
NCC 135.80
Rail Vikas Nigam 197.10
KEC International 397.85
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