Key Quantitative Figures
The Board of Directors of GAIL has accorded in-principle approval for the listing of shares of its wholly-owned subsidiary, GAIL Gas Limited (GGL), on Indian stock exchanges. The approval involves diluting GAIL's equity holding in GGL by up to 25% through an Initial Public Offering (IPO).
Dates of Action
The Board meeting where this approval was granted was held on 30 October 2026. The meeting commenced at 11:00 AM and concluded at 2:25 PM.
Parties or Entities Involved
The primary entity involved is GAIL (India) Limited. The action pertains to its wholly-owned subsidiary, GAIL Gas Limited (GGL). The disclosure is addressed to the National Stock Exchange of India Limited (Scrip Code: GAIL-EQ) and BSE Limited (Scrip Code: 532155). Copies were also sent to Deutsche Bank AG, Filiale Mumbai, and Beacon Trusteeship Limited.
Purpose or Stated Rationale
The stated purpose is to list the shares of GAIL Gas Limited on Indian stock exchanges via an IPO.
Next Steps and Pending Approvals
The final extent of equity dilution (up to the approved 25%), the modality, and other terms and conditions of the IPO are not yet finalized. GAIL Gas Limited is required to submit a final proposal based on the recommendations of its Book Running Lead Managers (BRLMs) concerning valuation, price band, and other terms. This proposal will then require a separate, final approval from the GAIL Board. A subsequent disclosure will be made to the stock exchanges once this final approval is obtained.