Mumbai-headquartered gas distribution company Mahanagar Gas Ltd has filed draft offer documents with the securities market regulator SEBI for an initial public offering.
The IPO will be an offer-for-sale of up to 2,46,94,500 by its promoter GAIL (up to 1,23,47,250 shares) and BG Asia Pacific Holdings Pte Ltd (up to 1,23,47,250 shares). Net offer to the public would be decided after the company decides on the employee reservation portion.
According to the offer document, the company considers two listed gas distribution companies - Indraprastha Gas Ltd and Gujarat Gas Ltd as industry peers.
Kotak Mahindra Capital Company and Citigroup Global Markets India are the book running lead managers to the issue and Link Intime India, the registrar to the issue.