Mahanagar Gas Incorporated in 1995, Mahanagar Gas Limited is a city gas distribution company. Mahanagar Gas supply natural gas in Mumbai and its surrounding areas. Mahanagar Gas is sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai. CNG is used in motor vehicles and PNG for domestic household use as well as for commercial and industrial use.
Mahanagar Gas supply CNG though its network of 180 CNG filling stations which includes stations owned and operated by the company, oil marketing companies and private parties. CNG and PNG businesses accounted for 65.10% and 34.90%, respectively, of total gas sales revenue.
Mahanagar Gas distribute natural gas through an extensive CGD network of pipelines, for which Mahanagar Gas have the exclusive authorization to lay, build, expand and operate the city gas distribution network. Company has a supply network of over 4,464 kms of pipelines.
Competitive Strengths:
1. Well positioned in Mumbai, one of the most populous cities in the world and second largest metropolitan city in India
2. Cost effective availability of domestic natural gas
3. Infrastructure exclusivity and established infrastructure network
4. Experience in successful development and operation of city gas distribution business.
5. Promoters with strong national and multinational experience
6. Strong financial performance with consistent growth and profitability
Company Promoters:
The promoters of the company are:
1. GAIL (India) Limited; and
2. BG Asia Pacific Holdings Pvt. Limited
Objects of the Issue:
The objects of the Offer are:
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. To carry out the Offer for Sale
Note: Company will not receive any proceeds from the Offer and all proceeds from the Offer shall go to the Selling Shareholders.
Issue Detail:
»» Issue Open: 20 – 22 June (Tentative)
»» Issue Type: Book Built Issue IPO
»» Issue Size: 24,694,500 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
»» Face Value: Rs 10 Per Equity Share
»» Issue Price: Rs. 455 – Rs. 485 Per Equity Share
»» Market Lot: 30
»» Issue size: Rs 1198 Cr
»» Listing At: BSE, NSE