The Hindu Business Line : IFC offloads further stake in Rain Calcining

CASHING in on the bull run in the Indian capital market, the International Finance Corporation (IFC), Washington, has further offloaded its holding in Rain Calcining Ltd (RCL).

RCL has informed the stock exchanges on Wednesday that it has received an intimation from IFC that they have sold 28,45,494 shares in the company, amounting to 2.2 per cent holding. IFC informed the company that the sale was made during the period November 11, 2003 to January 6.

Subsequent to the fresh sale, the shareholding of IFC in RCL now stands at 1,39,21,249 shares, amounting to 10.75 per cent of the total share capital of RCL.

Earlier, during September last year, IFC went in for similar profit booking by selling 26.58 lakh equity shares of RCL, amounting to 2.05 per cent equity.

As on June 30, 2003, IFC was holding 1.94-crore equity shares of Rain Calcining, amounting to 15 per cent of RCL's paid-up equity of Rs 129.48 crore.

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