Business Standard

Gujarat Gas tanks as British Gas exits

GSPC made an open offer to acquire additional 26% stake in Gujarat Gas at price of Rs 314.17 per share

Related News

Company has tanked almost 12% to Rs 297 in opening deals after (BG) sold controlling stake in its Indian subsidiary to the state-owned company Gujarat State Petroleum Corporation (GSPC) for Rs 2,464 crore.

“On Wednesday, signed an agreement for acquisition of 65.12% stake in Gujarat Gas Company from BG Group at Rs 295 per share. BG’s shareholding is being acquired by Gujarat Distribution Networks Limited, a company in which 100% is held by GSPC Group,” GSPC said in a filing.

Meanwhile, Gujarat Distribution Networks Limited along with GSPC has made an open offer to acquire additional 33.34 million shares constituting 26% of the fully paid-up share capital of Gujarat Gas at price of Rs 314.17 per share.

The stock opened at Rs 314 and touched high of Rs 316 on the NSE. A combined 1.02 million shares have changed hands on the counter in opening deals on both the exchanges.

Read more on:   
|
|

Read More

Mallya cashes in on UB Holding share rally

Even in bad times, Vijay Mallya has managed to make a neat cash pile for himself by selling a part of his in United Breweries Holding Ltd (UBHL), ...

Quick Links

 

Market News

Nickel down by 0.3% on global trend

Speculators trimmed positions amid a weak global trend

SpiceJet zooms as ex-promoter plans turnaround

Top sources in the ministry say investors are looking at pumping in around Rs 1,100 crore,

GMM Pfaudler hits record high on open offer by promoters

The promoter made an open offer to acquire 3.65 million or 25% stake in the company at price of Rs 245.85 per share.

Sensex, Nifty near day's high; RIL, L&T up 2%

The 30-share Sensex was up 339 points at 27,466 and the 50-share Nifty was up 95 points at 8,254.

Monte Carlo lists below issue price

Shares trade at Rs 598 as against issue price of Rs 645

Back to Top