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GSPL hikes stake in Sabarmati Gas to 27.47%

19 Feb 2016 Evaluate

Gujarat State Petroleum Corporation Limited (GSPC) has purchased 27.43% stake of financial institutions holding (50%) in Sabarmati Gas (SGL) at a total cost of Rs 56.23 crore. Post this purchase, shareholding of GSPL in SGL has gone up to 27.47% and accordingly, SGL has become associate company of GSPL.

Last year in December GSPL along with other promoters of Sabarmati Gas (SGL) had entered in to the share purchase agreement with the financial investors of Sabarmati Gas and SGL, wherein, GSPL has agreed to purchase 27,43,070 number of equity shares having face value of Rs 10 each (constituting 13.71% of the total paid-up equity share capital of SGL) from the financial investors of SGL.

SGL is a Joint Venture Company promoted by Bharat Petroleum Corporation (BPCL), Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet (GSPL), incorporated in the year 2006 for implementing the City Gas Distribution project for supply of CNG in transport segment & PNG to consumers in the domestic, commercial and industrial segments in Gandhinagar, Mehsana and Sabarkantha Districts of Gujarat. The paid up share capital of SGL is Rs 20 crore.

GSPL had a stake of 13.75% in equity capital of SGL (BPCL had a stake of 25%, GSPC had a stake of 11.25% and the balance 50% stake was held by Financial Investors). SGL has achieved Gross Revenue from operations of Rs 940 crore and net profit of Rs 111 crore in the year 2014-15.


Guj. State Petronet Share Price

275.10 2.75 (1.01%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 157.70
Gujarat Gas 367.35
Indraprastha Gas 166.35
Mahanagar Gas 1138.00
Adani Total Gas 620.55
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