Mahanagar Gas Ltd. share price target

Company background: Mahanagar Gas Ltd (MGL) is the third largest city gas distribution (CGD) company in India with a history of 20+ years of natural gas distribution in Mumbai and adjoining areas. MGL is promoted by GAIL and British Gas. As of FY2016-end, MGL served 0.47mn vehicles through its 4,646km of pipeline and 188 compressed natura..

Mahanagar Gas Ltd is one of the largest city gas distribution (CGD) companies in India having 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).

Mahanagar Gas (MGL) is one of India's largest players in the city gas distribution (CGD) business, which has concentrated its operations in Mumbai, adjoining areas and Raigad district in Maharashtra. Incorporated...

Mahanagar Gas Ltd (MGL) is one of India's leading natural gas distribution companies. MGL is a joint venture between GAIL (India) Ltd and the BG Asia Pacific Holdings Pte. Ltd (BGAPH) each of who holds 45% of its Equity Shares. MGL has more than 20 years of experience in supplying natural gas in Mumbai and is presently the sole authorized distributor of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Mumbai, its adjoining areas and the Raigad...

and Raigad. The Mumbai Metropolitan Region is a dense urbanindustrial cluster with a population of ~21mn, vehicle universe of ~2mn, and many commercial and industrial establishments. We have a positive view on the CGD sector and recommend investors...

The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the sale of 24,694,500 Equity Shares by the Selling Shareholders (up to 12,347,250 Eq Sh by GAIL (India) Ltd. and up to 12,347,250 Eq Sh by BG Asia Pacific Holdings Pte Ltd.). The Company will not...