Gujarat State Petroleum Corp. plans IPO in December

New Delhi: Gujarat State Petroleum Corp. Ltd (GSPC) is contemplating initial public offering of 20% equity in December this year to garner funds for its gas fields development.

Gujarat Energy Minister Saurabh Patel said, no decision have been taken as yet on the IPO and the timing and quantum of stake sell may vary depending on funds require and market condition.

“It will not be more than 20%," he said.

GSPC, the company owned by Gujarat government, is planning to invest Rs4,000 crore in developing Krishna Godavari basin gas fields.

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