Mahanagar Gas to raise around Rs 800 cr via IPO
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20 Jan 2015
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Mahanagar Gas, a natural gas distribution company located in Mumbai, is looking to raise around Rs 800 crore in a stock market listing in the first quarter of 2015, said a Reuters report quoting three sources involved in the process. Mahanagar Gas, a joint venture between GAIL (India) Ltd and U K's BG Group PLC, has hired Kotak Mahindra Capital and Citigroup to manage the initial public offering (IPO), said the media report. The company is expected to file for the IPO with market regulator Securities and Exchange Board of India over the next month, the sources also said, declining to be identified because the information has not been made public. With reference to your query regarding company's IPO plans, we would like to state that as and when we will plan (it), we will let you know, Mahanagar Gas spokeswoman Neera Asthana-Phate said in an email. |
| Source: Dion Global Type: IPO Related |
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