Maharashtra Natural Gas (MNGL), a joint venture involving Bharat Petroleum Corporation Ltd (BPCL), GAIL, and Indraprastha Gas Ltd (IGL), is gearing up to go public with an Initial Public Offering (IPO) exceeding ₹1,000 crore, as reported in a company filing by BPCL on January 6, which indicates that the board has given its preliminary approval for the offering.
“We would however like to mention that there has been a news report that MNGL, joint venture of BPCL, GAIL, IGL is preparing to list through IPO of over Rs.1000 crore. In this respect, BPCL Board has given in-principle approval for the IPO, subject to regulatory and other approvals,” said the company in an exchange filing.
