Export-Import Bank of India (Exim Bank) is the majority shareholder with 40% stake in GTF. The other shareholders are Malta-based Fim Bank - 38.5%, International Finance Corporation (IFC) with 12.5% and Bank of Maharashtra (BoM) - 9%.
The Centre holds 49% through Exim Bank and BoM. Post-IPO, the stakes of all these entities, except IFC, would come down proportionately. Furthermore, IPO would also act as an exit route for IFC which does not participate after five years in the institution promoted by it.