Adani Total Gas Ltd - ADANI TOTAL GAS Share Price

Summary

Adani Total Gas Limited (ATGL) was originally incorporated as Adani Gas Limited on August 5th, 2005 in Navrangpura, Ahmedabad. The Company changed the name from Adani Gas Limited to Adani Total Gas Limited on 1st January, 2021. The Company is engaged in the business of developing city gas distribution networks to supply PNG to the industrial, commercial and residential segments and CNG to the automotive segment. It has a presence in 19 geographical areas in Gujarat, Haryana, Madhya Pradesh, Uttar Pradesh, Chattisgarh, Karnataka, Tamil Nadu, Rajasthan and Odisha. During the year 2017, Adani Enterprises Limited transferred 25,67,42,040 (100%) equity Shares of the Company to Adani Gas Holdings Limited. Accordingly, the Company has become whollyowned Subsidiary Company of Adani Gas Holdings Limited w.e.f. 29th March 2017 and continues to be a step-down 100% subsidiary of Adani Enterprises Limited.During the year under review, the Board of Directors at its meeting held on 18th January, 2018 had approved the Composite Scheme of Arrangement among Adani Gas Holdings Limited (AGHL) and Adani Gas Limited (the Company) and Adani Enterprises Limited (AEL) and their respective shareholders and creditors for: (a) Amalgamation of AGHL with the Company; and (b) Subject to satisfactory fulfilment of (a) above i.e., upon amalgamation of AGHL with the Company becoming effective, demerger of the Demerged Undertaking of AEL and transfer of the same to the Company. The rationale for Composite... Read More