IL&FS sells environment biz to EverEnviro, reduces debt Rs 1.2k cr

08 Apr 2021 CW Staff

IL&FS, as the promoter of IEISL, held 97.54% of equity shares. IL&FS Employee Welfare Trust held the remaining 2.46% share. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management.

The company said that the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under IL&FS’s environment businesses.

Additionally, around 4,000 employees, including consultants, have been transferred along with the businesses, thus effectively resulting in annual savings of around Rs 50 crore to the IL&FS Group.

IEISL subsidiaries—Swayam Swachatta Initiative Ltd (SSIL), Dakshin Dilli Swachh Initiative Ltd (DDSIL), Swayam Swachhata Initiative Ltd (SSIL), RDF Power Projects Lte (RDF), Kanak Resources Management Ltd (KRML), and East Delhi Waste Processing Company Ltd (EDWPCL) form a part of this transaction and have also been transferred to EverEnviro.

IEISL is an India-based integrated waste management company present across various segments, including inter alia construction and demolition, collection and transportation, and waste-to-energy. It currently manages over 8,400 tonnes of waste per day.

Its assets include an integrated waste-to-energy plant located at Ghazipur in Delhi, which has generated over 141 million units of green electricity by processing over 1.38 million tonnes of solid waste.

The sale of IL&FS environment business is a part of the company's strategy to resolve the overall debt of IL&FS Group as per the resolution plan approved by the National Company Law Tribunal (NCLT).

Image Source

Also read: IL&FS sells 49% stake in Chinese road asset

Bankrupt firm Infrastructure Leasing and Financial Services (IL&FS) has sold 100% stake of its environment business—IL&FS Environmental Infrastructure and Services Ltd (IEISL), to EverEnviro Resource Management, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF). IL&FS, as the promoter of IEISL, held 97.54% of equity shares. IL&FS Employee Welfare Trust held the remaining 2.46% share. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management. The company said that the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under IL&FS’s environment businesses. Additionally, around 4,000 employees, including consultants, have been transferred along with the businesses, thus effectively resulting in annual savings of around Rs 50 crore to the IL&FS Group. IEISL subsidiaries—Swayam Swachatta Initiative Ltd (SSIL), Dakshin Dilli Swachh Initiative Ltd (DDSIL), Swayam Swachhata Initiative Ltd (SSIL), RDF Power Projects Lte (RDF), Kanak Resources Management Ltd (KRML), and East Delhi Waste Processing Company Ltd (EDWPCL) form a part of this transaction and have also been transferred to EverEnviro. IEISL is an India-based integrated waste management company present across various segments, including inter alia construction and demolition, collection and transportation, and waste-to-energy. It currently manages over 8,400 tonnes of waste per day. Its assets include an integrated waste-to-energy plant located at Ghazipur in Delhi, which has generated over 141 million units of green electricity by processing over 1.38 million tonnes of solid waste. The sale of IL&FS environment business is a part of the company's strategy to resolve the overall debt of IL&FS Group as per the resolution plan approved by the National Company Law Tribunal (NCLT). Image Source Also read: IL&FS sells 49% stake in Chinese road asset

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..