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Mahanagar Gas Limited IPO (Mahanagar Gas IPO) Detail

June 21, 2016 - June 23, 2016

Mahanagar Gas IPO is a book built issue of Rs 1,039.64 crores. The issue is entirely an offer for sale of 2.47 crore shares.

Mahanagar Gas IPO bidding started from June 21, 2016 and ended on June 23, 2016. The shares got listed on BSE, NSE on July 1, 2016.

Mahanagar Gas IPO price band is set at ₹380 to ₹421 per share. The minimum lot size for an application is 35 Shares. The minimum amount of investment required by retail investors is ₹14,735.

Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Mahanagar Gas IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Mahanagar Gas IPO DRHP for detailed information.

Mahanagar Gas IPO Details

IPO Date June 21, 2016 to June 23, 2016
Listing Date July 1, 2016
Face Value ₹10 per share
Price Band ₹380 to ₹421 per share
Lot Size 35 Shares
Total Issue Size24,694,500 shares
(aggregating up to ₹1,039.64 Cr)
Offer for Sale24,694,500 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Mahanagar Gas IPO Reservation

Mahanagar Gas IPO offers 17,346,150 shares. 4,898,900 (28.24%) to QIB, 3,674,175 (21.18%) to NII, 8,573,075 (49.42%) to RII, 200,000 (1.15%) to employees. 244,945 RIIs will receive minimum 35 shares and (sNII) and (bNII) will receive minimum 490 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered4,898,900 (28.24%)NA
NII (HNI) Shares Offered3,674,175 (21.18%)
Retail Shares Offered8,573,075 (49.42%)244,945
Employee Shares Offered200,000 (1.15%)NA
Total Shares Offered17,346,150 (100%)

Mahanagar Gas IPO Lot Size

Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 35 ₹14,735
Retail (Max) 13 455 ₹191,555
Lot Size Calculator

About Mahanagar Gas Limited

Incorporated in 1995, Mahanagar Gas Limited is a city gas distribution company. Information in this paragraph is copied from 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 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

Company Financials


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

Objects of the Issue (Mahanagar Gas IPO Objectives)

The objects of the Offer are:
1. to achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. to carry out the Offer for Sale

Note: Company will not receive any proceeds from the Offer and all proceeds from the Offer shall go to the Selling Shareholders.

Mahanagar Gas IPO Review (Apply)

[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...

Mahanagar Gas IPO Subscription Status (Bidding Detail)

The Mahanagar Gas IPO is subscribed 64.54 times on June 23, 2016 11:00:00 PM. The public issue subscribed 6.82 times in the retail category, 72.84 times in the QIB category, and 191.61 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Mahanagar Gas IPO Prospectus

Mahanagar Gas IPO Rating

Rating:Rated 4.0 stars
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Mahanagar Gas IPO Listing Details

Listing Date July 1, 2016
BSE Script Code 539957
NSE Symbol MGL
ISIN INE002S01010
Final Issue Price ₹421 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Mahanagar Gas Limited Contact Details

Mahanagar Gas Limited
MGL House, G-33 Block,
Bandra-Kurla Complex,
Bandra (East), Mumbai - 400 051
Phone: +91 (22) 6695 2941

Mahanagar Gas IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Mahanagar Gas IPO - Buy or Not

Mahanagar Gas IPO Recommendation Summary

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Members 0 0 0

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Mahanagar Gas IPO FAQs

Mahanagar Gas IPO is a main-board IPO of 24,694,500 equity shares of the face value of ₹10 aggregating up to ₹1,039.64 Crores. The issue is priced at ₹380 to ₹421 per share. The minimum order quantity is 35 Shares.

The IPO opens on June 21, 2016, and closes on June 23, 2016.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Mahanagar Gas IPO opens on June 21, 2016 and closes on June 23, 2016.

Mahanagar Gas IPO lot size is 35 Shares, and the minimum amount required is ₹14,735.

You can apply in Mahanagar Gas IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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 July 1, 2016.
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Mahanagar Gas IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



1286. gamble |   Link |  Bookmark |September 1, 2016 10:25:36 PM (1600+ Posts, 3900+ Likes)
Mgl results :

Net profit : 92 vs 84(qoq) vs 77(yoy)
Income : 530 vs 557(qoq) vs 562(yoy)
EPS : 9.39 8.56 7.88
1285. gamble |   Link |  Bookmark |August 30, 2016 12:32:34 PM (1600+ Posts, 3900+ Likes)
Sold out mgl,tata motors and taken position in wipro,LTI,hcl.
1284. IPO Riders |   Link |  Bookmark |August 27, 2016 3:35:49 AM
Now what is next target of MGL ? Khemkaji

Will it deliver good results like IGL or fall on results?

Please reply
1284.1. Khemka |   Link |  Bookmark |August 27, 2016 9:33:14 AM (1000+ Posts, 400+ Likes)
650 by October although one can exit mgl near 620 soon
1283. gamble |   Link |  Bookmark |August 22, 2016 9:53:38 PM (1600+ Posts, 3900+ Likes)
It seems expectation on mgl gonna b high..!!

Indraprastha Gas Ltd, the sole retailer of CNG in national capital region, today reported a 44 percent jump in its June quarter net profit on rise in gas sales and lower interest cost.

Net profit in April-June at Rs 147.72 crore, or Rs 10.57 a share, was higher than Rs 102.32 crore, or Rs 7.32 per share, in the same period a year ago, the company said in a statement here.
1282. PKK |   Link |  Bookmark |August 22, 2016 3:19:42 PM
The dividend is subject to the approval of Share Holders in the AGM
Rs.17.50 (including Rs.7.50 as special dividend)
1281. PKK |   Link |  Bookmark |August 22, 2016 2:53:49 PM
1280. Patel Piyush |   Link |  Bookmark |August 18, 2016 8:56:19 PM
I hold 35 MGL Share
1280.1. CLD |   Link |  Bookmark |August 18, 2016 9:12:58 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
MGL has gained good amount & will not rise unlimited. It is better to sell & again enter when it falls.
1280.2. Ipo tracker |   Link |  Bookmark |August 18, 2016 10:05:39 PM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
Mgl has declared a dividend of rs 17.50, for FY16. , but record date is not updated in the exchange''s site. Perhaps the reason why stock rallied.
1279. Patel Piyush |   Link |  Bookmark |August 18, 2016 8:55:07 PM
Koi batayega MGL ka target kya hai?
1278. Purshotam Agarwal |   Link |  Bookmark |August 17, 2016 5:52:39 PM
Ms Eagleye
Can you let me know whether one will get dividend for F16 for shares allotted in IPO, if yes how can we confirm that.
1277. gururaj desai |   Link |  Bookmark |August 17, 2016 5:39:59 PM
Whether MGL shares are cumdividend?if so,what is record date & dividend per share?
1276. Ankit Ojhaa |   Link |  Bookmark |August 9, 2016 2:53:51 PM
Just sold now allotment shares @ 547. Freeeeeeeeee
1275. ddma |   Link |  Bookmark |August 5, 2016 4:55:22 PM
Tum sab beach do panoti jani ki baad hi koi chij chalti hi
1275.1. Nobil |   Link |  Bookmark |August 8, 2016 9:52:37 PM
Hehehe true now I think panoti''s are golne it has started moving up .

Currently Market price is 530 agd is going up 👍
1274. Rajkot Special |   Link |  Bookmark |July 29, 2016 2:23:32 PM





1274.2. Nobil |   Link |  Bookmark |July 29, 2016 8:58:25 PM
Sachi vat che rajkot vala bhai

Pan haji 500 niche jai to pachi recovery avij jai che
1274.3. gamble |   Link |  Bookmark |August 1, 2016 11:32:45 AM (1600+ Posts, 3900+ Likes)
Ane have to block deal pn chalu thai gyi 6...chalvo j joie....:)
1273. shubham bansal |   Link |  Bookmark |July 29, 2016 10:06:58 AM
Result date kab h. ND isne koi dividend diya h kya
1272. Rajkot Special |   Link |  Bookmark |July 28, 2016 11:17:19 AM
IGL up 4% near 52 week high
GUJARAT GAS UP4% near 52 week high
MGL not moved
Very unlucky script
Sell this stock @ 500
1272.1. Nobil |   Link |  Bookmark |July 28, 2016 6:01:36 PM
Tame vachi naikho Special ji

Jo share hoi to and lava hoi no 500 niche hata tyare lai lavani jarur hati.

Have jani pase che e no cache.
1271. Vivek Damani |   Link |  Bookmark |July 27, 2016 11:06:33 AM
A lot of you are getting anxious on why this stock is not moving, well here is my take. We all know how markets behave, there are people selling and people buying which keeps the stock prices changing. If this is not happening, it means it`s not natural and can only be due to design. This scrip is superb. The company has monopoly, and therefore many funds and brokerages want to buy. Still a lot of retail investors holding this stock. The best way to shake out the retail investor is to keep the price unmoving. Creates frustration and people dump stocks and someone buys it at 500. Once the target retail stock is out, the price will move up again and the same brokers will be selling you this at 600, and you will be dying to buy it thinking you missed an opportunity. So have patience and hold on. If you sell, only one who holds on will benefit.
1271.1. Raynmaker |   Link |  Bookmark |August 5, 2016 7:59:00 PM
Vivek Ramani,
You copied my message from money control and posted it here. Thanks for making my words reach so many people on this forum. Next time please don''t hesitate to mention original author''s name.
1270. AHMEDABAD SMART IPO |   Link |  Bookmark |July 24, 2016 12:11:33 AM
sell this stock, no hope for future......... money transfer in thyrocare technologies or l and t infotech
1269. NarendraRajkot |   Link |  Bookmark |July 22, 2016 10:49:51 PM
Hi eagleye and septa sir will u pls suggest wht to do in MGL. hold or sell i have 115 at issue price
1268. Pranay Mehta |   Link |  Bookmark |July 19, 2016 1:14:35 AM
I was alloted 1 application and not sold yet ao please should i kept or sold in short term. Please help me septa ji and eagle eye ji???
1267. ddma |   Link |  Bookmark |July 16, 2016 4:18:43 PM
Abhi to mood bana hi nahi hi jab mood ban jayiga sabko dikha dega kisme kitna hi dam so dont worry investers