Ahmedabad: After leaving the leasing & financial infrastructure services ridden by debt (IL & FS) from Gujarat International Finance Tec-City Co.
Ltd.
(GIFTCL) last year, the Gujarat government has recently repeatedly in two state government entities with a proven trail record.
In infrastructure development as an equity partner in the company.
The government has, in its process, putting aside the option to bring private entities on board.
Gujarat Industrial Development Corporation (GIDC), a nodal body that develops industrial plantations, currently has around 20% of shares in GIFTCL while Maritime Board Gujarat (GMB), regulator for all major ports and development of LEDs in the state, recently It takes 20% of equity shares, said sources in the state government.
To further strengthen the base, the government has instilled equity with taste around Rs 425 Crore.
After IL & FS completed the sale of 50% of its shares in GIFTCL to the Gujarat government, represented by Gujarat Urban Development Company Ltd which holds the remaining pegs.
IL & FS received Rs 32.71 Crore as equity value for stocks as a consideration for sales last year.
The total paid-up capital for GIFTCL is around Rs 65.40 Crore about a year ago and this has risen around RS 490 Crore at this time.
While GUDC has invested new equity with the tone of Rs 225 Crore thus holding around 60% of the shares in GIFTCL, GMB and GIDC each invested the RS 100 Crore each of 20% of the shares, a GIFTCL official said.
“With the government take full stock in the gift city, trust among all the stakeholders of the prize city has been strengthened.
Continuous support in downtown gifts further enhancing the image image.
After this step, we have seen substantial growth trajectories in terms of participation by financial institutions and financial institutions Those related to International Financial Services, “said Tapan Ray, MD & Group CEO, City prize.
There are more than 250 companies that have begun operating in the prize cities being developed on a spacious 886 acre plot near Gandhinagar.
It employs more than 12,000 people today.
It accommodates the country’s first international financial service center (IFSC) which has attracted leading international and domestic players throughout the spectrum of financial services, ranging from banks, asset management companies, alternative investment funds and professional service companies since it was founded in 2015.
Banking transactions at The IFSC prize across a value of $ 100 billion at the end of July 2021.
“The city of the prize is on a strong footing today.
With GMB and GIDC as an equity partner after leaving IL & FS is an indicator that the government does not consider partnerships with private entities in the near future.
From The time when the GiftCl official reaches the company, a stage has been set today where the company came to call to the gift city to organize the business here, “said a senior government official.