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Mahanagar Gas acquires 100% stake in Unison Enviro

02 Feb 2024 Evaluate

Mahanagar Gas (MGL) has acquired 100% equity stake in Unison Enviro (UEPL). This strategic acquisition, the first in MGL's history, solidifies the company's commitment to its long-term growth strategy. The acquisition was completed on February 1, 2024, subsequent to the receipt of approval from Petroleum and Natural Gas Regulatory Board (PNGRB) on December 13, 2023.  Accordingly, UEPL has become Wholly-Owned Subsidiary of the Company with effect from February 01, 2024. 

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.


Peers
Company Name CMP
GAIL (India) 167.35
Gujarat Energy 220.30
Indraprastha Gas 143.05
Mahanagar Gas 1041.40
Adani Total Gas 576.00
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