Mahanagar Gas, which supplies natural gas to Mumbai, is mulling an initial public offer (IPO) worth around Rs 1,000 crore. For giving a mandate for the public offer, the company expects a valuation of over Rs 6,000 crore and is in talks with banks.
GAIL and British Gas own 49.75 per cent each in Mahanagar Gas and the rest is held by the Maharashtra government.
GAIL and British Gas will sell shares by way of the public offer and monetise their investments.
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