IFC to pick 25% stake in Meghmani Finechem

Gujarat-based Meghmani Organics Limited (MOL), a global manufacturer of pigments and agrochemicals, has announced that International Finance corporation (IFC) will buy a 25% stake in its fine chemicals special purpose vehicle.

Meghmani is setting up a caustic chlorine complex through a special purpose vehicle -- Meghmani Finechem Ltd.

Under an agreement inked with Meghmani Organics, IFC will invest Rs 46.10 crore in Meghmani Finchem’s Rs 554 crore Chlor-Alkali upcoming project up at Dahej in Bharuch district in south Gujarat.