The board of directors of Gujarat State Petronet (GSPL) have approved a proposal to issue 2.20 crore equity shares to International Finance Corporation (IFC), Washington DC on preferential basis.According to a release issued by GSPL to the BSE today, the company yesterday signed the share subscription and shareholders agreement with IFC subsequent to the board approval.The price computed, as per Sebi guidelines on preferential issue, works out to Rs 57.29 per share. As a result, the approx equity investment by IFC would not exceed $ 30 million.
