Adani Gas gets oil regulator nod for demerger, stake sale to Total
New Delhi: The AdaniNSE 1.83 % family-owned Adani GasNSE 12.47 % has secured a nod from oil regulator for its demerger from its parent and the subsequent sale of a stake in the company to French energy giant Total SA after it made a formal application for the same, sources said.
The Petroleum and Natural Gas Regulatory Board (PNGRB) had threatened to cancel the 13 city gas distribution licences Adani Gas had won in the 9th bid round in 2018 for allegedly perpetrating a “fraud” by not disclosing material facts of the demerger.
