Support: +91-22-61011756 /
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

BG Asia Pacific Holdings sells stake of Mahanagar Gas for Rs 770 cr

Wednesday, 21 Aug 2019
Share this on :
BG Asia Pacific Holdings, a wholly owned subsidiary of Shell India has sold 10 percent stake in the city gas distribution business of Mahanagar Gas (MGL) for Rs 770 crore.

The company sold 9.98 million shares through block deals at Rs 780 each.

In 2016, Shell took over BG Group and, subsequently, acquired its assets worldwide. Shell India acquired 34 percent stake in Mahanagar Gas through BG Asia Pacific when it was listed on 1 July 2016.

The company offloaded 24 percent of its shareholding in two tranches, 8.5 percent in April 2018 and 14 percent in August 2018, in the open market through bulk deals.

With this the BG Asia Pacific Holdings stake in the Mahanagar Gas stood at 10 percent. With the latest sale of stake, the company has now exited the city gas business in India.  

Guidelines issued by Securities and Exchange Board of India (Sebi) stipulate minimum promoters’ contribution shall be locked in for three years from the date of allotment in a public issue.

With the lock-in period coming to an ending, Shell India decided to sell its stake and focus on other businesses in India.

Mahanagar Gas sells CNG to over 700,000 retail outlets and piped natural gas to over 1.17 million households. It runs over 240 CNG retail outlets. It plans to add 20 CNG stations each over the next two years.

Post Your Comments


Sign up to start your free trial

Are you...


Free access to Project News and Analysis

Project and Tender Alert in your mailbox

Explore the largest Database on Projects for free

Be part of Online Projects Community

User login
Start Exploring

Subscribe to any of our premium plans to

Access to complete information on 43000+ projects

Use our Notification service for instant update on projects and tenders

Closely monitor your opportunities with "WORKSPACE"

Use our online platform for promotions of your products and services