Mahanagar Gas LogoMahanagar Gas IPO (MGL IPO)

Mahanagar Gas Limited is one of the largest city gas distribution companies in India. Established in 1995, the company has more than 20 years of experience in supplying natural gas in Mumbai and is presently the sole authorised distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas and the Raigad district in the state of Maharashtra. Mahanagar Gas is a joint venture (JV) between GAIL (Gas Authority of India Litd) and BGAPH (BG Asia Pacific Holdings Pte. Limited) with each party owning 49.75% of its equity shares. GAIL is a Maharatna public sector undertaking and the largest natural gas transmission company in India while Singapore based BGAPH is a part of Royal Dutch Shell.
Mahanagar Gas distributes CNG for use in motor vehicles and PNG for domestic household use as well as for commercial and industrial use. As at June 30, 2015, Mahanagar Gas supplied CNG to over 0.43 million vehicles through its network of 180 CNG filling stations, and provided PNG connection to approximately 0.82 million domestic households, over 2,600 commercial and 55 industrial consumers in Mumbai and its adjoining areas. For Fiscal 2015, CNG and PNG businesses accounted for 74.09% and 25.91%, respectively, of the total volume of natural gas sold, and 65.10% and 34.90%, respectively, of its total gas sales revenue. 
As at June 30, 2015, Mahanagar Gas had a supply network of over 4,464 kms of pipelines, including approximately 4,057 kms of polyethylene (medium and low pressure) pipeline and 407 kms of steel pipeline, and 180 CNG filling stations. Its total revenue increased to INR21,356.37 million in fiscal 2015 from INR10,735.64 million in Fiscal 2011 at a CAGR of 18.76%. Similarly, its profit after tax increased to INR3,010.01 million in Fiscal 2015 from INR2,255.08 million in Fiscal 2011 at a CAGR of 7.49%.

[vc_tta_tabs active_section=”1″][vc_tta_section title=”IPO Details” tab_id=”1458479750724-614c421f-343f6435-e2b8″]
MGL IPO Date 21-23 June 2016
Price Band INR380 – 421 per share
Issue Size INR938.4 – 1,039.6 crore
Face Value INR10 per share
Minimum Bid 35 shares
Retail Allocation 35%
Listing On BSE, NSE
[/vc_tta_section][vc_tta_section title=”IPO Objectives” tab_id=”1458479750944-ca7931cb-810c6435-e2b8″]

The IPO is an offer for sale (OFS) and Mahanagar Gas will not receive any proceeds from the IPO.

[/vc_tta_section][vc_tta_section title=”Capital structure” tab_id=”1458479806356-0ea35d5d-db866435-e2b8″]
Name of shareholder Equity Shares Percentage (%)
GAIL 44,449,990 45
BGAPH (British Gas/Royal Dutch Shell) 44,449,960 45
Government of Maharashtra 9,877,778 10
Total 98,777,778 100
[/vc_tta_section][vc_tta_section title=”Financial performance” tab_id=”1458479824794-117a2258-dc646435-e2b8″]

Mahanagar Gas’ consolidated financial performance (in INR crore)
  FY2011 FY2012 FY2013 FY2014 FY2015
Total revenue 10,624.2 13,090.3 15,143.8 18,851.5 20,949.3
Total expenses 7,412.2 8,744.3 11,038.8 14,778.6 16,863.4
Profit/(loss) after tax 2,255.1 3,077.4 2,985.1 2,972.5 3,010.0
[/vc_tta_section][/vc_tta_tabs]

MGL IPO Subscription Details

Category Shares offered Subscription (No. of times)
Day 1 Day 2 Day 3
QIB 4,898,900 1.82 6.44 72.84
NII 3,674,175 0.23 2.39 191.61
Retail 8,573,075 1.09 3.23 6.82
Employees 200,000 0.02 0.15 1.18
Total 17,346,150 1.10 3.92 64.54

MGL IPO Allotment Status

Mahanagar Gas IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

You can also check your IPO allotment status from your mobile at
http://linkintime.co.in/ipo

Articles about Mahanagar Gas

Mahanagar Gas Contact Details

Mahanagar Gas Limited
MGL House, G-33 Block,
Bandra-Kurla Complex,
Bandra (East), Mumbai 400 051

Phone: +91 22 6695 2941
Fax: +91 22 6675 6491
Email: [email protected]
Website: http://www.mahanagargas.com

What we are reading

Business Standard: Takeover of BG expands Shell’s India presence

Registrar of Mahanagar Gas IPO

Link Intime India Private Limited
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai – 400 078
Maharashtra, India

Phone: +91 22 2596 3838
Fax: +91 22 2594 6969
Email: [email protected]
Website: http://www.linkintime.co.in

Listing Performance of Mahanagar Gas IPO

IPO Opening Date: 21 June 2016

IPO Closing Date: 23 June 2016 

Finalisation of Basis of Allotment: 28 June 2016

Initiation of refunds: 29 June 2016

Transfer of shares to demat accounts: 30 June 2016

Listing Date: 1 July 2016

Listing Price on NSE: INR540 per share

Closing Price on NSE: INR519.3 per share

37 COMMENTS

  2. MGL is a good company, we should apply when the IPO opens. I,m not regular with grey market these days but 1k is too low. May increase when the IPO opens.

  4. Kostak rates are around 1500 now in Jaipur and Kanpur but apart from listing gains, it looks a hold for long term. It even offers a dividend yield of 3.6%.

    • As a group, employees are doing good. On the other hand, retail investors are jumping on every ipo like there is no tomorrow. Result – IPOs are more like lotteries these days.

  11. MGL IPO basis of allotment is yet to be approved. Please visit this site after 5 pm on 29th June 2016 for further update
    (from linktime website)

  12. MGL IPO basis of allotment – expected to be completed late tonight. Please visit this site post 4 a.m. for the update.

    Bhai log, this is from Link Intime site. Kal sabko jaldi uthna hai, all the best

    Registrar is the perhaps the most screwed part our IPOs. Link Intime is never in time, Karvy better sounds like ‘Kar bhi’, and Share Pro ke liye to kya kahein

LEAVE A REPLY

Please enter your comment!
Please enter your name here

© IPO Central