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IGL has acquired 50% stake in MGNL

On Monday, Indraprastha Gas Ltd (IGL) said that it has acquired 25 lakh more shares of Maharashtra Natural Gas Ltd (MGNL) and becomes 50% shareholders in the company.

IGL had acquired 4.75 crore shares in MGNL in the first tranche earlier this year.

IGL said in a BSE filing, “In the second and final tranche, the company has acquired 25 lacs shares of MNGL at a price of Rs 38 per equity shares of MNGL.”

“Presently, the company holds 5 crore shares (constituting 50 percent of present paid up capital) of MNGL,” it added.

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