23.11.2011 - GSPC in talks with Singapore GIC for fund raising
State-run energy company, Gujarat State Petroleum Corporation (GSPC) is holding talks with Singapore's sovereign wealth fund- GIC, for fund raising. Government of Singapore Investment Corporation (GIC), is one of the world's leading sovereign wealth fund, established by the Government of Singapore. "After getting Gujarat government's approval to raise Rs. 2,000-2,500 crore through private placement of equity, talks are now underway with GIC, the world's leading sovereign wealth fund," a top GSPC official told PTI, without divulging the percentage of equity that would be diluted in case the deal clicks. The Gujarat government currently holds 91.35 per cent equity stake in the company...............................................Full Article: Source
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