Valuation at Rs. 4800 crore! Mahanagar Gas plans IPO to offload stake

The company may file a draft prospectus with the Securities and Exchange Board of India seeking approval for promoters to sell 25% stake in the firm through an initial public offering (IPO).

Mahanagar Gas, jointly owned by GAIL and British Gas, is planning an Initial Public Offering.

The company may file a draft prospectus with the Securities and Exchange Board of India seeking approval for promoters to sell 25% stake in the firm through an initial public offering (IPO), a report stated.

The joint owners plan to sell 25% in Mahanagar Gas for Rs 1,200 crore, valuing firm at Rs 4,800 crore. 

Mahanagar Gas joins the list of other companies including RBL Bank and Alkem Laboratories that have filed the draft red herring prospectus with SEBI.