Gujarat State Petroleum Corporation (GSPC) will acquire 65.12% in Gujarat Gas Company Ltd (GGCL) for Rs 24.64bn, according to reports.
Reports stated that GSPC, along with its affiliates in the Group, signed definitive agreements for buying the stake from the BG Group.
The acquisition is being made at Rs 295 a share, says report.
There are reports that the deal would expand GSPC Groups presence in Gujarat.
India Infoline News Service / 08:59, Aug 25, 2014
The outlook is a flat start. The BankNifty has given a breakout but many of the large caps are remaining in a range keeping the main indices under pressure.