IVRCL to split into 2 firms

City-based infra fim IVRCL Ltd on Saturday decided to split itself into two companies — one focusing on cash contracts, while the other focusing on PPP projects.

The company had info-rmed stock exchanges that its board has decided “to carve out the business of the company into “EPC company” and “assets company”.

It further said that the carving out of the EPC business as a separate entity will help it to attract investment by potential investors. The demerger will happen after required clearances.

With the company would be reverting back to its old template where IVRCL focused on EPC and IVR Prime focused on BOT.