IFC sells part of stake in Orchid Chemicals

Chennai: IFC, Washington, has sold 2.17 per cent of stake in Orchid Chemicals on yesterday 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.