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IL&FS sells environment business to EverSource, reduces debt by Rs 1,200 crore ANI | Updated: Apr 07, 2021 13:34 IST Mumbai (Maharashtra) [India], Apr 7 (ANI): IL&FS has sold its stake in environment business to EverEnviro Resource Management, a 100 per cent owned subsidiary of Green Growth Equity Fund (GGEF) managed by EverSource Capital. IL&FS, as the promoter of IL&FS Environmental Infrastructure and Services Ltd (IEISL), held 97.54 per cent of equity shares. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust. The entire shareholding in IEISL held by IL&FS Group has been transferred to EverEnviro Resource Management. The sale will reduce IL&FS overall debt by Rs 1,200 crore which is the combined debt of entities under IL&FS environment businesses, it said in a statement issued on Wednesday.

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