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Indraprastha Gas surges on entering into SPA to acquire upto 5 crore equity shares of MNGL

28 Aug 2014

Indraprastha Gas is currently trading at Rs. 381.55, up by 7.10 points or 1.90% from its previous closing of Rs. 374.45 on the BSE.

The scrip opened at Rs. 376.80 and has touched a high and low of Rs. 382.50 and Rs. 372.60 respectively. So far 37146 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 393.70 on 04-Aug-2014 and a 52 week low of Rs. 236.00 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 382.50 and Rs. 361.00 respectively. The current market cap of the company is Rs. 5336.81 crore.

The promoters holding in the company stood at 45.00% while Institutions and Non-Institutions held 36.64% and 18.36% respectively.

Indraprastha Gas has signed Share Purchase Agreement (SPA) to acquire upto 50,000,000 equity shares of Rs 10 each of Maharashtra Natural Gas (MNGL) at a price of Rs 38 per equity share from certain financial investor shareholders of MNGL in such a manner so that upto completion of the proposed transaction the Company's shareholding in MNGL shall not exceed 50% of the issued, subscribed and paid up share capital of MNGL. MNGL is in City Gas Distribution business in Pune in the State of Maharashtra.

Indraprastha Gas, incorporated in 1998, is engaged in distribution of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Delhi. In 1999 the company took over Delhi City Gas Distribution Project from GAIL (India). IGL laid the network for the distribution of natural gas in the National Capital of Delhi to consumers in the domestic, transport, and commercial sectors.

Related Indraprastha Gas Ltd. Links:

Indraprastha Gas Share Price

498.95 7.15 (1.45%) Dec 07, 17:59
1 Year Price Chart
Company Name CMP
GAIL India 132.70
Petronet LNG 224.50
Indraprastha Gas 498.95
Linde India 2452.80
Confidence Petroleum 71.30
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323