Mahanagar Gas IPO

Mahanagar Gas IPO

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Mahanagar Gas LogoMahanagar Gas IPO (MGL IPO)

Mahanagar Gas Limited is one of the largest city gas distribution companies in India. Established in 1995, the company has more than 20 years of experience in supplying natural gas in Mumbai and is presently the sole authorised distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas and the Raigad district in the state of Maharashtra. Mahanagar Gas is a joint venture (JV) between GAIL (Gas Authority of India Litd) and BGAPH (BG Asia Pacific Holdings Pte. Limited) with each party owning 49.75% of its equity shares. GAIL is a Maharatna public sector undertaking and the largest natural gas transmission company in India while Singapore based BGAPH is a part of Royal Dutch Shell.
Mahanagar Gas distributes CNG for use in motor vehicles and PNG for domestic household use as well as for commercial and industrial use. As at June 30, 2015, Mahanagar Gas supplied CNG to over 0.43 million vehicles through its network of 180 CNG filling stations, and provided PNG connection to approximately 0.82 million domestic households, over 2,600 commercial and 55 industrial consumers in Mumbai and its adjoining areas. For Fiscal 2015, CNG and PNG businesses accounted for 74.09% and 25.91%, respectively, of the total volume of natural gas sold, and 65.10% and 34.90%, respectively, of its total gas sales revenue. 
As at June 30, 2015, Mahanagar Gas had a supply network of over 4,464 kms of pipelines, including approximately 4,057 kms of polyethylene (medium and low pressure) pipeline and 407 kms of steel pipeline, and 180 CNG filling stations. Its total revenue increased to INR21,356.37 million in fiscal 2015 from INR10,735.64 million in Fiscal 2011 at a CAGR of 18.76%. Similarly, its profit after tax increased to INR3,010.01 million in Fiscal 2015 from INR2,255.08 million in Fiscal 2011 at a CAGR of 7.49%.

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MGL IPO Date21-23 June 2016
Price BandINR380 – 421 per share
Issue SizeINR938.4 – 1,039.6 crore
Face ValueINR10 per share
Minimum Bid35 shares
Retail Allocation35%
Listing OnBSE, NSE
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The IPO is an offer for sale (OFS) and Mahanagar Gas will not receive any proceeds from the IPO.

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Name of shareholderEquity SharesPercentage (%)
GAIL44,449,99045
BGAPH (British Gas/Royal Dutch Shell)44,449,96045
Government of Maharashtra9,877,77810
Total98,777,778100
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Mahanagar Gas’ consolidated financial performance (in INR crore)

 FY2011FY2012FY2013FY2014FY2015
Total revenue10,624.213,090.315,143.818,851.520,949.3
Total expenses7,412.28,744.311,038.814,778.616,863.4
Profit/(loss) after tax2,255.13,077.42,985.12,972.53,010.0
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MGL IPO Subscription Details

CategoryShares offeredSubscription (No. of times)
Day 1Day 2Day 3
QIB4,898,9001.826.4472.84
NII3,674,1750.232.39191.61
Retail8,573,0751.093.236.82
Employees200,0000.020.151.18
Total17,346,1501.103.9264.54
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MGL IPO Allotment Status

Mahanagar Gas IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

You can also check your IPO allotment status from your mobile at
http://eipo.linkintime.co.in/ipo/ 
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Mahanagar Gas Contact Details

Mahanagar Gas Limited
MGL House, G-33 Block,
Bandra-Kurla Complex,
Bandra (East), Mumbai 400 051

Phone: +91 22 6695 2941
Fax: +91 22 6675 6491
Email: [email protected]
Website: http://www.mahanagargas.com

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What we are reading

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Registrar of Mahanagar Gas IPO

Link Intime India Private Limited
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai – 400 078
Maharashtra, India

Phone: +91 22 2596 3838
Fax: +91 22 2594 6969
Email: [email protected]
Website: http://www.linkintime.co.in

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Listing Performance of Mahanagar Gas IPO

IPO Opening Date: 21 June 2016

IPO Closing Date: 23 June 2016 

Finalisation of Basis of Allotment: 28 June 2016

Initiation of refunds: 29 June 2016

Transfer of shares to demat accounts: 30 June 2016

Listing Date: 1 July 2016

Listing Price on NSE: INR540 per share

Closing Price on NSE: INR519.3 per share

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37 COMMENTS

  1. MGL IPO basis of allotment – expected to be completed late tonight. Please visit this site post 4 a.m. for the update.

    Bhai log, this is from Link Intime site. Kal sabko jaldi uthna hai, all the best

    Registrar is the perhaps the most screwed part our IPOs. Link Intime is never in time, Karvy better sounds like ‘Kar bhi’, and Share Pro ke liye to kya kahein

  2. MGL IPO basis of allotment is yet to be approved. Please visit this site after 5 pm on 29th June 2016 for further update
    (from linktime website)

    • As a group, employees are doing good. On the other hand, retail investors are jumping on every ipo like there is no tomorrow. Result – IPOs are more like lotteries these days.

  3. Kostak rates are around 1500 now in Jaipur and Kanpur but apart from listing gains, it looks a hold for long term. It even offers a dividend yield of 3.6%.

  4. MGL is a good company, we should apply when the IPO opens. I,m not regular with grey market these days but 1k is too low. May increase when the IPO opens.

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