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After showing interest in Bharat Petroleum Corporation (BPCL) stake sale through its arm Think Gas, private equity major I Squared Capital has invested approximately $200 million in Singapore-based AG&P City Gas, which is developing twelve city gas distribution networks in India.
The investment has been made through ISQ Global Infrastructure Fund III and ISQ Growth Markets Infrastructure Fund, as a first tranche of a $300 million equity raise in AG&P City Gas. I Squared Capital said it is planning to deploy up to $1.3 billion as capital expenditure to develop the distribution networks. AG&P City Gas is present in India
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