GAIL Gas IPO on the cards after blockbuster FY24
GAIL (India) Limited is looking to take its city gas distribution company, GAIL Gas (GGL), public on Indian stock exchanges.
They've just hired a consultant to check if an IPO makes sense, following a standout FY24 where GGL posted ₹10,944 crore in revenue and ₹323 crore profit.
GGL is already in 13 states
GGL delivers natural gas—think CNG for vehicles and PNG for homes—to about 6% of India's population across 25 areas in 13 states.
The company is growing fast, picking up new projects and acquisitions as demand rises.
City gas expected to grow quickly
City gas is booming: the sector's expected to grow at 13% annually through FY30, much faster than before.
By 2030, regulators say city gas could make up a third of all India's gas use—making GAIL's expansion and this IPO pretty important moves right now.