IEDCL sold 27.75 per cent of its stake in Urjankur Nidhi Trust, where Maharashtra Energy Development Agency has a 50 per cent stake and Shree Datta Shetkari Sakhar Karkhana Ltd holds 22.25 per cent.
Work on the road project is expected to start within 15 days from the receipt of the Ministry's consent
The total length of the pipeline is 185.38 km and the total value of the contract is Rs 162.58 crore
The stock rallied 15% to Rs 58.60 on the BSE in early morning trade.