Infrastructure Leasing and Financial Services (IL&FS) has sought expressions of interest (EoI) for the 42.25 per cent stake it holds along with IL&FS Financial Services (IFIN) in subsidiary IL&FS Engineering and Construction Company (IECCL) under the group’s resolution process.
The transaction if successful would lead to change in the promoter of the IECCL. The company has an outstanding debt of around Rs 4,700 crore.
In an advertisement seeking EoIs, IL&FS said that IECCL has more than three decades of experience in the engineering and construction business with capabilities in providing integrated engineering, procurement and construction services.
“IECCL is primarily executing infrastructure projects across India and has been delivering projects in the sectors of power, oil and gas, roads, railways and metros, water and irrigation and building and structure,” it said.
