Maithan Alloys Limited announced the acquisition of equity shares of GAIL (India) Ltd. through the stock exchange.
- The event occurred on 2nd July, 2025, with the company becoming aware of the detailed particulars on 3rd July, 2025.
- Details of the acquisition:
- Cost of acquisition: ₹10.55 Crore.
- Percentage of shareholding acquired: 0.017%.
- Number of shares acquired: 555,000 shares.
- Purpose of acquisition: The shares were acquired with a view to reap long-term/short-term investment benefits.
- Maithan Alloys Limited does not intend to acquire direct or indirect control of GAIL's management.
- Brief background of GAIL (India) Ltd.:
- GAIL (India) Ltd. is the largest state-owned natural gas processing and distribution company in India.
- It has a diversified business portfolio with interests in sourcing and trading of natural gas, production of LPG, liquid hydrocarbons, and petrochemicals, as well as transmission of natural gas and LPG through pipelines.
- GAIL's financial highlights as of 31st March, 2025:
- Turnover: ₹137288 Crore.
- PAT: ₹11312 Crore.
- Net worth: ₹63241 Crore.