Temasek Holdings purchased convertible preference shares in April 2010. The shares will be converted once GMR holds its IPO which is expected in late 2010. It is not clear how much Temasek has invested but it is believe it is $200 million. At one point, it was reported that Temasek would invest 600 crore ($120 million). Talks started in December 2009. Claymore Investments holds Temasek investments.