Gujarat State Petroleum Company has planned to invest around 4,100 crore Indian Rupees in producing & distributing gas. This huge investment will be made in its eastern offshore Krishna Godavari basin gas field. This investment will help the company to make the gas field plant operational by 2011.
The Gujarat government own 100% in Gujarat State Petroleum Company. According to market sources Gujarat State Petroleum is thinking for an initial public offer for funding part of this huge investment. But Gujarat chief minister Narendra Modi is not interested in launching an initial public offer and thus he denied any proposal to divest stake in the company through an IPO.
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