Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
Presently, GSPL holds 52% in GIGL and would continue to hold 52% after this additional equity contribution in GIGL. Hence, there will be no change in terms of percentage of Shareholding by GSPL in GIGL.
GIGL is a Subsidiary of GSPL with other Joint Venture Partners being Indian Oil Corporation (26% ), Bharat Petroleum Corporation Limited (11% ) & Hindustan Petroleum Corporation (11% ). GIGL is engaged in the execution / implementation of the Cross - Country Natural Gas Transmission Pipeline Projects namely: Mehsana Bhatinda Pipeline Project and Bhatinda - Gurdaspur Pipeline Project awarded by Petroleum and Natural Gas Regulatory Board.
The Board of Directors has approved the following:
1. Subscription of GIGL' s Right issue of Redeemable Cumulative Preference Share amounting to Rs. 35.77 crore.
2. Additional equity contribution in GIGL amounting upto Rs. 7.80 crore and Cumulative equity contribution of Rs. 1339.84 crore.