The investment arm sold just over 19.3 million shares in the Bombay-listed business, which is India’s largest private port and special economic zone (SEZ).
It was established in 1998 to develop a private port at Mundra on the country’s west coast, and merged with Mundra Special Economic Zone in 2006.
GIC initially invested alongside UK-headquartered private equity firm 3i in 2006, with the latter exiting its investment three years later.
Both parties held about 1.78 per cent of the business following their initial purchase.
Goldman Sachs and JP Morgan have been appointed as joint global coordinators and joint bookrunners.
Germany-based Springer is also backed by Swedish private equity firm EQT.
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