IL&FS sells entire stake in IWPSL to ORIX Corp for Rs 6.05 crore
Mumbai: Cash-strapped Infrastructure Leasing and Financial Services (IL&FS) on Thursday said it has sold its 100 per cent stake in IL&FS Wind Power Services Ltd (IWPSL) to ORIX Corporation, Japan, for Rs 6.05 crore.
IWPSL, a wholly-owned subsidiary of IL&FS Energy Development Company (IEDSL), is engaged in providing supervisory and management support services to seven operating wind power generating special purpose vehicles (SPVs).
In October 2019, the group had divested its 51 per cent equity stake held in seven wind power SPVs to ORIX.
Company Summary
NSEBSE
IL&FS Investment Man…0.00 (0.00%)
“The divestment of IWPSL has resulted in a consideration of Rs 6.05 crore to IL&FS Energy that will be kept in an escrow account for its lenders,” the group said in a release.
