Country's second largest CNG retailer Mahanagar Gas, which recently concluded its Rs 1,040 crore-IPO, will make its stock market debut tomorrow.
"Trading members of the exchange are hereby informed that effective from Friday, July 1, 2016, the equity shares of Mahanagar Gas Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities," BSE said in a notice today.
The initial share sale of Mahanagar Gas was oversubscribed 64.54 times last week.
The price band for the IPO was fixed at Rs 380-421.
Mahanagar Gas, promoted by state-run GAIL and British Gas Asia Pacific Holdings, made an offer for sale of up to 24,694,500 equity shares of Rs 10 each.
The money raised through the IPO would accrue to the promoters who are selling their stake.
Mahanagar Gas, a major distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and adjoining areas, receives gas at its stations located at Wadala, Mahape, Ambernath and Taloja through pipelines owned by GAIL.
The company's IPO hit the market after a gap of more than a month after Parag Milk Foods' offer in early May.
Earlier this year, IPO of diagnostics company Thyrocare Technologies was oversubscribed 73.46 times, while staffing firm TeamLease Services' offer was oversubscribed 66 times.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
