Hi,
GSFC is a public sector undertaking  jointly launched by gujarat government and GSFC ( another gujarat government PSU)
Government of gujarat - 26%
GSFC 25% (GSFC is owned by gujarat government by 51%)
Public share 49%
So the ultimate owner is Gujarat government.
Hope it helps...

Hello Rahul , GIPCL was incorporated in 1985 as a public limited company under the auspices of Government of Gujarat. The promoters of the company are GSFC, Gujarat Urja Vikas Nigam Limited, Gujarat Alkalies & Chemicals Limited and Petrofils Co-operative Limited. The company is in the business of electrical power generation.

So, Its government company.

Hope it will be helpful for you :)