The government is planning to sell 3% stake in state-owned gas utility GAIL India which could fetch over Rs 1,300 crore to the exchequer. The Finance Ministry has moved a draft Cabinet note for inter-ministerial consultations for selling over 3.80 crore shares in GAIL through a public offer. The government holds 56.11 per cent stake in the company.
Divesting 3% interest will help the government keep its shareholding well above 51 per cent - minimum strategic holding it has decided to keep in key public sector units.
The government is targeting Rs 69,500 crore from stake sale in PSUs this fiscal. Of this, Rs 41,000 crore will come from minority share sale in PSUs and Rs 28,500 crore from strategic stake sale.
GAIL is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.
| Company Name | CMP |
|---|---|
| GAIL India | 166.50 |
| Gujarat Gas | 396.55 |
| Indraprastha Gas | 166.25 |
| Mahanagar Gas | 1171.95 |
| Adani Total Gas | 633.70 |
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