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Mahanagar Gas inks agreement to acquire 100% stake in Unison Enviro

04 Mar 2023 Evaluate

Mahanagar Gas (MGL) has signed a Share Purchase Agreement (SPA) with Unison Enviro (UEPL) and existing shareholders of UEPL (Ashoka Buildcon and an investment fund managed by Morgan Stanley India Infrastructure) for acquisition of 100% stake in UEPL. The SPA will be subject to customary approvals from Regulatory Authorities.

This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere) thereby providing new avenues for long term growth. The transaction is of strategic importance to MGL and the extended footprint would help the company to scale its future business development activities across a larger network and customer base.

HDFC Bank Investment Banking was exclusive Transaction Advisor to MGL. Kotak Investment Banking was exclusive Financial Advisor to Ashoka Buildcon and the investment fund managed by Morgan Stanley India Infrastructure on this transaction.

Mahanagar Gas is in the business of City Gas Distribution (CGD), supplying natural gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.

Mahanagar Gas Share Price

1136.55 -1.45 (-0.13%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 160.80
Gujarat Gas 374.25
Indraprastha Gas 167.25
Mahanagar Gas 1136.55
Adani Total Gas 614.85
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