Adani Gas to Skip IPO, Plans Direct Listing

By Jagat Joshi
March 7, 2018
9:45 am
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By Jagat Joshi
March 7, 2018

Adani Group’s gas distribution company will skip the initial public offer. They are planning a direct listing of shares. Adani Group decided to demarge comapnies of gas sourcing and gas distribution in January.

Adani Enterprises share holders will get 1 share of Adani Gas for 1 each as the company said in investor presentation on 18 January. Adani Gas Holdings will merge with Adani Gas Ltd as per the pan.

Adani Gas supply PNG and CNG gas in Ahmedabad, Baroda, Faridabad, Khurja. They already won the contracts to supply gas in Allahabad, Chandigarh, Ernakulam, Panipat, Daman and Dharwad with Indian Oil Corp. Ltd.

Adani Gas operates in six cities and they might reach to 50 cities by 2021.

Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.

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