Essel Group sells stake in IVRCL through its group companies

Essel Group, through its group companies -- Asia Satellite Broadcast and Jay Properties has offloaded its stake in IVRCL for about Rs 68 crore.

Jay Properties has sold a total of 96.83 lakh shares of IVRCL for Rs 47.57 crore on the NSE while, another 20.50 lakh shares of the Hyderabad-based firm in a deal worth Rs 10.33 crore on the BSE. Besides, Asia Satellite Broadcast sold 19.75 lakh shares of IVRCL for Rs 9.91 crore on the BSE.

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.