Mahanagar Gas on Monday raised Rs 309 crore from nearly two dozen anchor investors. The gas distribution firm allotted 7.34 million shares at Rs 421 apiece to investors which included DB International, Morgan Stanley and Merrill Lynch.
The company's Rs 1,040-crore initial public offering (IPO) opens for subscription on Tuesday. The price band for the IPO is Rs 380-421 per share.
The IPO will comprises of offer for sale (OFS) worth Rs 520 crore each from GAIL (India) and UK's BG Group. Mahanagar Gas, country's leading natural gas distribution company, is a joint venture between Gail and BG group.
The government of Maharashtra owns 10% stake in the company. Mahanagar Gas' IPO is being managed by Kotak Mahindra Capital Company and Citigroup Global Markets.
Mahanagar Gas raises Rs 309 cr from anchor investors
Company's Rs 1,040-cr IPO opens for subscription on June 21
 "Govt eyes public issues, ETFs as choppy markets derail disinvestment plans")
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 20 2016 | 8:34 PM IST
