Wednesday, June 15, 2016

Mahanagar Gas IPO to open on Jun 21st

Mahanagar Gas Ltd is entering in the capital markets with an initial public offering, IPO of 24,694,500 Equity Shares of Rs 10 each. The price band for the issue has been fixed at Rs 380 at lower level and Rs 421 at upper level.

Mahanagar Gas Limited is a city gas distribution company. Information in this paragraph is copied from chittorgarh.com. Mahanagar Gas supply natural gas in Mumbai and its surrounding areas. Company 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.


The issue opens on Jun 21, 2016 and closes for subscription on Jun 23, 2016. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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