April 01, 2016
Consequent to the reduction in the price of domestically produced natural gas by the Government of India, Mahanagar Gas Limited (MGL) is pleased to reduce its CNG price by Rs. 0.70/Kg and Domestic PNG price by Rs. 0.60/ SCM with effect from midnight of April 01, 2016 / morning of April 02, 2016.
Accordingly, revised prices of CNG and domestic PNG in Mumbai will be Rs. 41.20/Kg and Rs. 24.71/SCM, respectively. This price reduction is also being affected in the municipalities adjoining Mumbai after factoring in implications of local municipal Octroi/LBT and/or Cess. Revised prices (inclusive of local taxes) of CNG shall be in the range of Rs. 41.20/Kg to Rs. 41.94/Kg and of domestic PNG shall be in the range of Rs. 24.71/SCM to Rs. 24.92/SCM in the areas / municipalities adjoining Mumbai.
All our valued customers may please take note of these revisions.
Mahanagar Gas Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (“SEBI”). The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers i.e. Kotak Mahindra Capital Company Limited at www.investmentbank.kotak.com and Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the Red Herring Prospectus proposed to be filed with the Registrar of Companies. This advertisement is not an offer to sell or a solicitation of any offer to buy securities in the United States or elsewhere. Securities may not be offered or sold in the United States absent registration or an exemption from registration; any public offering of securities to be made in the United States will be made by means of a prospectus. Mahanagar Gas Limited does not intend to make any public offering of securities in the United States.