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Mahanagar Gas IPO is a book build issue of ₹1,038.88 crores. The issue is entirely an offer for sale of 2.47 crore shares of ₹1,038.88 crore.
Mahanagar Gas IPO bidding started from Jun 21, 2016 and ended on Jun 23, 2016. The shares got listed on BSE, NSE on Jul 1, 2016.
Mahanagar Gas IPO price band is set at ₹421.00 per share . The lot size for an application is 35. The minimum amount of investment required by an retail is ₹13,300 (35 shares). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,06,290, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,01,980.
The issue includes a reservation of up to 2,00,000 shares for employees offered at a discount of ₹38.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Mahanagar Gas IPO RHP for detailed Information.
| IPO Date | June 21, 2016 to June 23, 2016 |
| Listing Date | July 1, 2016 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹380 to ₹421 per share |
| Issue Price Final | ₹421 per share |
| Lot Size | 35 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,46,94,500 shares (aggregating up to ₹1,038.88 Cr) |
| Employee Discount | ₹38.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,87,77,778 shares |
| Share Holding Post Issue | 9,87,77,778 shares |
Mahanagar Gas IPO offers total 2,46,94,500 shares. Out of which 1,22,47,250 (49.60%) allocated to QIB, 48,98,900 (19.84%) allocated to QIB, 36,74,175 (14.88%) allocated to NII, 85,73,075 (34.72%) allocated to RII and 73,48,350 (29.76%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,22,47,250 (49.60%) | NA |
| − Anchor Investor Shares Offered | 73,48,350 (29.76%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 48,98,900 (19.84%) | NA |
| NII (HNI) Shares Offered | 36,74,175 (14.88%) | NA |
| Retail Shares Offered | 85,73,075 (34.72%) | 2,44,945 |
| Employee Shares Offered | 2,00,000 (0.81%) | NA |
| Total Shares Offered | 2,46,94,500 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Mahanagar Gas IPO opens on June 21, 2016, and closes on June 23, 2016.
| IPO Open Date | Tue, Jun 21, 2016 |
| IPO Close Date | Thu, Jun 23, 2016 |
| Tentative Listing Date | Fri, Jul 1, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jun 23, 2016 |
Investors can bid for a minimum of 35 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,735 |
| Retail (Max) | 13 | 455 | ₹1,91,555 |
| S-HNI (Min) | 14 | 490 | ₹2,06,290 |
| S-HNI (Max) | 67 | 2,345 | ₹9,87,245 |
| B-HNI (Min) | 68 | 2,380 | ₹10,01,980 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1995, Mahanagar Gas Limited is a city gas distribution company. Information in this paragraph is copied from chittorgarh.com. Mahanagar Gas supply natural gas in Mumbai and its surrounding areas. Company is sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai. CNG is used in motor vehicles and PNG for domestic household use as well as for commercial and industrial use.
Company supply CNG though its network of 180 CNG filling stations which includes stations owned and operated by the company, oil marketing companies and private parties. Content in this paragraph is copied from chittorgarh.com. CNG and PNG businesses accounted for 65.10% and 34.90%, respectively, of total gas sales revenue.
Company distribute natural gas through an extensive CGD network of pipelines, for which Mahanagar Gas have the exclusive authorization to lay, build, expand and operate the city gas distribution network. Company have a supply network of over 4,464 kms of pipelines.
Competitive Strengths:
1. Well positioned in Mumbai, one of the most populous cities in the world and second largest metropolitan city in India
2. Cost effective availability of domestic natural gas
3. Infrastructure exclusivity and established infrastructure network
4. Experience in successful development and operation of city gas distribution business.
5. Promoters with strong national and multinational experience
6. Strong financial performance with consistent growth and profitability
|
Particulars |
For the year/period ended (in Rs. Million) | ||||
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Liabilities | 23,562.96 | 21,655.85 | 19,743.01 | 17,829.70 | 15,462.72 |
| Total Assets | 23,562.96 | 21,655.85 | 19,743.01 | 17,829.70 | 15,462.72 |
| Total Revenue | 21,216.28 | 21,356.37 | 19,196.47 | 15,462.34 | 13,283.99 |
| Profit After Tax (PAT) | 3,086.87 | 3,010.01 | 2,972.49 | 2,985.06 | 3,077.43 |
| KPI | Values |
|---|---|
| RoNW | 20.2% |
[Dilip Davda] The Company is in virtual monopolistic business with steady growth and bright prospects ahead. It offers IPO at a justified pricing and thus is worth considering for medium to long term rewards. Read detail review...
| Listing Date | July 1, 2016 |
| BSE Script Code | 539957 |
| NSE Symbol | MGL |
| ISIN | INE002S01010 |
| Final Issue Price | ₹421 per share |
| BSE Listing Group | B |
Mahanagar Gas Ltd.
MGL House, G-33 Block,
Bandra-Kurla Complex,
Bandra (East), Mumbai - 400 051
Bandra, Maharashtra
Phone: +91 (22) 6695 2941
Email: mgl.ipo@mahanagargas.com
Website: http://www.mahanagargas.com
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: mgl.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Mahanagar Gas IPO is a main-board IPO of 2,46,94,500 equity shares of the face value of ₹10 aggregating up to ₹1,038.88 Crores. The issue is priced at ₹421 per share. The minimum order quantity is 35.
The IPO opens on June 21, 2016, and closes on June 23, 2016.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mahanagar Gas IPO using UPI as a payment gateway. Zerodha customers can apply in Mahanagar Gas IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mahanagar Gas IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mahanagar Gas IPO opens on June 21, 2016 and closes on June 23, 2016.
Mahanagar Gas IPO lot size is 35, and the minimum amount required for application is ₹14,735.
You can apply in Mahanagar Gas IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mahanagar Gas IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Mahanagar Gas IPO allotment status.
The Mahanagar Gas IPO listing date is on Friday, July 1, 2016.
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