Mahanagar Gas (MGL) has announced its first inorganic acquisition in the CGD space, Unison Enviro Pvt Ltd (UEPL), from the latter’s erstwhile promoters Ashoka Buildcon and North Haven India Infra (a Morgan Stanley affiliate). MGL has acquired 100% stake in the fledgling CGD player and has stated UEPL equity value at Rs5.3bn, which implies an enterprise value of ~Rs6.4bn (gross debt on the books of UEPL as of FY22, stood at Rs1.13bn).