Mahanagar Gas Limited (MGL) IPO review.
Dear Friends, Mahanagar Gas Limited (MGL) IPO is open for subscription in the price band of INR380-421 per share between 21 and 23 June 2016 . Applications can be made for 35 share and in multiples thereafter. Mahanagar Gas supply natural gas in Mumbai and its surrounding areas. Company is the only authorized distributor of Compressed Natural Gas (CNG) for Vehicles and Piped Natural Gas (PNG) for Domestic and industrial use in Mumbai. The company has a network of more than 180 CNG filling stations and PNG connections to approximately 0.86 million domestic households, over 2,866 commercial and 60 industrial consumers in Mumbai and its adjoining Areas. Objective of the Issue: 1. To achieve the benefits of listing the Equity shares on the stock exchanges. 2. To carry out the Offer for Sale. Company will not receive any proceeds from the offer and all proceeds from the Offer shall go to the selling shareholder. Share holding Pattern in MG