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.