Adani Gas makes smashing debut

A new debutant made a smashing entry on the bourses today. Its new but its parents, siblings and et al; all are already listed. Adani Gas is one more from the Adani group to get listed.

The pre-open price was expected to be at Rs.60 and it got listed at Rs.72. This company, the gas sourcing and distribution company is a spin off from Adani Enterprise. And now for the next 10 days, it will trade in the Trade-to-trade segment. It is currently at the day’ high point at Rs.73.70.

The shareholders of Adani Enterprises on September 9 were allotted one equity share of AGL (face Value of Re1) for each share held in Adani Enterprises.

Promoter holding is at 74.92% stake.

This is the fourth gas distribution company to be listed on the bourses – other three being Indraprastha Gas, Gujarat Gas and Mahanagar Gas