{"id":71868,"date":"2016-06-14T11:40:09","date_gmt":"2016-06-14T11:40:09","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=71868"},"modified":"2016-06-14T11:40:09","modified_gmt":"2016-06-14T11:40:09","slug":"gail-india-indraprastha-gas-firm-up-on-buzz-of-mahanagar-gas-ipo","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gail-india-indraprastha-gas-firm-up-on-buzz-of-mahanagar-gas-ipo\/","title":{"rendered":"GAIL (India), Indraprastha Gas firm up on buzz of Mahanagar Gas IPO"},"content":{"rendered":"<p>GAIL (India) and Indraprastha Gas rose by 0.51% to 4.87% at 14:45 IST on BSE ahead of launch of Mahanagar Gas&#8217; initial public offer.<\/p>\n<p>Indraprastha Gas (up 4.87%) and GAIL (India) (up 0.51%), edged higher. <\/p>\n<p>Meanwhile, the S&#038;P BSE Sensex was down 113.57 points, or 0.43% at 26,283.20. <\/p>\n<p>Mahanagar Gas (MGL) is a natural gas distribution company. MGL is a joint venture between GAIL (India) and the BG Group (UK). MGL distributes natural gas (CNG &#038; PNG) in Mumbai and its adjoining areas. <\/p>\n<p>According to reports, MGL is planning to raise Rs 1200 crore via initial public offer (IPO). MGL and the merchant bankers are looking at a timeline of 20 &#8211; 22 June 2016 for the IPO. <\/p>\n<p>GAIL and BG Group will reportedly sell 12.5% stake each in the proposed IPO of MGL to trim their stakes to 37.25% each from 49.75% each currently. The Maharashtra government holds the remaining 0.5%. <\/p>\n<p>Shares of GAIL (India) and Indraprastha Gas rallied on anticipation of valuation that MGL is likely to get through the IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GAIL (India) and Indraprastha Gas rose by 0.51% to 4.87% at 14:45 IST on BSE ahead of launch of Mahanagar Gas&#8217; initial public offer. Indraprastha Gas (up 4.87%) and GAIL (India) (up 0.51%), edged higher. Meanwhile, the S&#038;P BSE Sensex was down 113.57 points, or 0.43% at 26,283.20. Mahanagar Gas (MGL) is a natural gas distribution company. MGL is a joint venture between GAIL (India) and the BG Group (UK). MGL distributes natural gas (CNG &#038; PNG) in Mumbai and its adjoining areas. According to reports, MGL is planning to raise Rs 1200 crore via initial public offer (IPO). MGL [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-71868","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/71868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=71868"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/71868\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=71868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=71868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=71868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}