GIPCL's Rs 275cr IPO to open on Oct 13

 "Of the total issue, Rs 75 crore would be reserved for promoters, and the balance Rs 200 crore would be offered to the public," Balwant Singh, chairman of GIPCL, said.

 The company is planning to set up a 250 MW, lignite-based power plant at Nani Naroli near Surat, and a project to  develop a captive lignite mine at an estimated total cost of Rs 1,448 crore.

 GIPCL is promoted by Gujarat Urja Vikas Nigam, Gujarat State Fertilisers and Chemicals, Gujarat Alkalies and Chemicals and Petrofils.