ICICI Prudential Fund has bought 11.55 lakh shares or 0.76 per cent stake in Gujarat Industries Power Company for its various schemes. The fund house has acquired the stake on September 7. Following the acquisition, the fund house' holding in the company rose to 5.75 per cent.
GIPCL is a Vadodara-based public limited company engaged in the business of power generation with an installed capacity of 815 MW as on March 31, 2015. The company operates two gas based power plants in Vadodara, VS-I and VS-II aggregating 310 MW and two lignite-based power plants in Surat, SLPP-I and SLPP-II aggregating 500 MW.