Mahanagar Gas IPO
Mahanagar Gas IPO — date, price band, lot size & details 2016
Mahanagar Gas listed on 1 Jul 2016 at ₹540, 28.3% above the ₹421 issue price.
Mahanagar Gas is the city gas distributor for Mumbai and nearby areas, and the sole authorised distributor of CNG and piped natural gas in Mumbai. Its total income was Rs 2,121.63 crore in FY2016.
Stock price
Mahanagar Gas is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 21 Jun 2016
- Close 23 Jun 2016
- Allotment 29 Jun 2016
- Refund/credit TBA
- Listing 01 Jul 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 Jun, 2016 |
|---|---|
| Price Band | ₹380 – ₹421 |
| Face Value | ₹10 |
| Lot Size | 35 Shares |
| Issue Size | ₹1038.88 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 38.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,735 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹421 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹14,735 |
| Retail (max) | 13 | 455 | ₹1,91,555 |
| S-HNI (min) | 14 | 490 | ₹2,06,290 |
| S-HNI (max) | 67 | 2,345 | ₹9,87,245 |
| B-HNI (min) | 68 | 2,380 | ₹10,01,980 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was the sole authorised distributor of CNG and PNG in Mumbai, with income of Rs 2,121.63 crore in FY2016.
- 02Profit after tax rose from Rs 297.25 crore in FY2014 to Rs 308.69 crore in FY2016.
- 03Total borrowing was only Rs 4.38 crore in FY2016.
- 04Net worth rose from Rs 1,296.96 crore in FY2014 to Rs 1,527.98 crore in FY2016.
Risks · 5
- 01Total income was flat, at Rs 2,135.64 crore in FY2015 and Rs 2,121.63 crore in FY2016.
- 02Gas prices and its exclusivity period are set by regulators, which can change its margins; total assets were Rs 2,356.30 crore.
- 03Its business is confined to one region, Mumbai and nearby areas; profit was Rs 308.69 crore in FY2016.
- 04The whole Rs 1,038.88 crore issue was an offer for sale, so none of it went to the company.
- 05Promoters held 90% before the issue and 65% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Mahanagar Gas offer document.
| Metric | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 2014 |
|---|---|---|---|
| Assets | 2,356.30 | 2,165.59 | 1,974.30 |
| Total Income | 2,121.63 | 2,135.64 | 1,919.65 |
| Profit After Tax | 308.69 | 301.00 | 297.25 |
| NET Worth | 1,527.98 | 1,407.47 | 1,296.96 |
| Reserves and Surplus | 1,438.63 | 1,318.12 | 1,207.62 |
| Total Borrowing | 4.38 | 15.59 | 7.98 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Mahanagar Gas RHP.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Mahanagar Gas IPO will be updated shortly.
Mahanagar Gas IPO Anchor Investors
44 anchor investors across 18 fund houses committed ₹309.30 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It supplies natural gas in Mumbai and the surrounding areas.
It is the sole authorised distributor of compressed natural gas (CNG), used in vehicles, and piped natural gas (PNG), used in homes and by commercial and industrial customers, in Mumbai.
The IPO was Rs 1,038.88 crore and was entirely an offer for sale by the promoters at Rs 421, the top of the Rs 380 to Rs 421 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Mahanagar Gas IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Mahanagar Gas?
The current Grey Market Premium is ₹0.
What is the Mahanagar Gas IPO price band?
₹380 to ₹421, on a face value of ₹10.
When is the allotment?
The basis of allotment is 29 June 2016, with listing on 1 July 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
