Divestment Minister Arun Shourie is rushing to Singapore to address representatives of 120 global funds who have signed up for India Unlimited, ICICI Securities' annual investor conference, which begins on Monday.

The success of the largest ever divestment of government undertakings will be the theme of the third edition of the conference.

Over 120 global funds have signed up for 'India Unlimited', where 40 Indian companies, representing about 60 per cent of the Bombay Stock Exchange market capitalisation, will be present. The list of companies include the Tatas, Reliance, Hindustan Lever, Infosys, Wipro, Mahindra & Mahindra, State Bank, ONGC, GAIL and others.

The fund brigade will be led by the Capital Group, Government of Singapore, Morgan Stanley, JP Morgan, UBS, Temasek, Fidelity and others. Some other funds that do not have presence in India will also be present.

"The idea is a showcase India to foreign investors, narrate to them the India story. The success of the PSU divestment programme has illustrated the strength of our capital market," said S Mukherjee, managing director of I-Sec. The GAIL public issue, which closed last week with 9.3 times over-subscription, attracted 350,000 retail applications -- the highest for any public sector undertakings.

The Maruti IPO had about 300,000 retail applicants. Both IPCL and CMC drew around 120,000 retail applications. Shourie will interact with global fund managers at the conference for two days.