Essel Group does not plan to increase its stake in infrastructure company, IVRCL Ltd , from the current 12.27%, the company said on Monday.
Investment bankers mandated to find buyers for an 11.2% IVRCL stake held by promoters had approached Essel, a statement from the group said.
"However, the indicated asking price was manifold above the then prevailing market price," it said.
Essel Group is the single largest shareholder in IVRCL.
