Gujarat Gas is planning to pick up the entire 50% stake of GAIL Gas in Vadodara Gas (VGL). The transaction is expected to be about Rs 200-250 crore for an enterprise valuation of about Rs 500 crore of VGL.
Initially, the company was looking to pick a minority stake in VGL from GAIL Gas, however, it recently decided to pick up the entire stake of GAIL Gas in the entity.
Gujarat Gas (formerly Gujarat Gas Company) is engaged in processing, transmission, and distribution of natural gas. It supplies gas to industrial, commercial and domestic customers.