Asian Development Bank (ADB) is reportedly planning to sell 5.2 percent stake in Petronet LNG via a block deal. ADB is looking to raise $120 million through this stake sale.
State-run entities GAIL, Oil and Natural Gas Corp , Indian Oil and Bharat Petroleum hold a 12.5 percent stake each in Petronet, along with GdF of France. ADB has been a stakeholder in Petronet since 2004.
Petronet LNG is one of the leading players in oil and natural gas industry space. It has India’s first and largest LNG supply terminal located at Dahej.
