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IFC sells part of stake in Orchid Chem

Our Bureau

Chennai , Nov. 19

IFC, Washington, sold 2.17 per cent of stake in Orchid Chemicals on Wednesday in the stock market. Following the sale, IFC's holding in the company stands at 10 per cent.

Retail investors bought IFC's stake, which would not impact the company's current set-up, according to Mr K. Raghavendra Rao, Managing Director, Orchid Chemicals. Along with Schroder Capital and the promoter group, IFC continues to be one of Orchid's key shareholders.

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