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GAIL gains on emerging as highest bidder for IL&FS wind power plants

Mumbai : GAIL (India) is currently trading at Rs. 342.45, up by 3.10 points or 0.91% from its previous closing of Rs. 339.35 on the BSE. The scrip opened at Rs. 341.00 and has touched a high and low of Rs. 344.50 and Rs. 339.95 respectively. So far 42828 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 398.80 on 16-Aug-2018 and a 52 week low of Rs. 296.00 on 05-Oct-2018. Last one week high and low of the scrip stood at Rs. 355.00 and Rs. 332.05 respectively. The current market cap of the company is Rs. 76999.40 crore. The promoters holding in the company stood at 52.64%, while Institutions and Non-Institutions held 43.64% and 3.72% respectively.

GAIL (India) has been emerged as the highest bidder for Infrastructure Leasing & Financial Services’ (IL&FS) seven operating wind power plants. The bidding process to these assets having 12 sites spread across seven states was launched in November last year.

The company’s offer of approximately Rs 4,800 crore for 100 percent enterprise value contemplates no hair-cut to the debt of the SPVs, aggregating to nearly Rs 3,700 crore. These wind power assets have a total generation capacity of 874 MW.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

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