IFCI has been appointed as a global advisor for divesting state owned Punjab State Industrial Development Corporation (PSIDC) 44.26% stake in Punjab Alkalies & Chemicals (PACL). The decision was taken by Directorate of Public Enterprise and Divestment (DPED), Punjab. PSIDC has 44.26% stake in PACL comprising 90.90 lakh equity shares.
Punjab government has been waiting to get the right price before divesting its stake in PACL. In 2010, Punjab government has invited Expression of Interest (EOI) where almost 14 companies had evinced interest in buying the stake of PSIDC in PACL.
Punjab Alkalies & Chemicals is engaged in the manufacturing of caustic soda, liquid chlorine, hydrogen and hydrochloric acid with capacity of 300 Tonne Per Day. The product produced by the company is used in paper industry, vegetable oil, aluminium and textile sectors.
