India Glycols had informed exchanges that it has approved selling off about 51 percent stake when it comes to the specialty chemicals business of the company. The specialty chemicals business would be transferred into a step-down subsidiary, a wholly-owned subsidiary which would be called IGL Green Chemicals and then the 51 percent stake would be sold to Clariant International.

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The specialty chemical business contributed 12.85 percent to revenue of India Glycols. CNBC-TV18’s Yash Jain reported this on February 16 and it is official now.

Watch accompanying video for more details.

(Edited by : Priyanka Rathi)

First Published:Mar 12, 2021 11:45 AM IST