The BPCL board has approved the ₹1,000 crore public offering of a joint venture for Maharashtra Natural Gas.

The BPCL board has approved the ₹1000 crore public offering for Maharashtra Natural Gas.

According to a January 6 company filing by BPCL, which shows that the board has granted its preliminary approval for the offering, Maharashtra Natural Gas (MNGL), a joint venture comprising Bharat Petroleum Corporation Ltd (BPCL), GAIL, and Indraprastha Gas Ltd (IGL), is preparing to go public with an IPO exceeding ₹1,000 crore.

However, we would like to draw attention to a news article that claims MNGL, a joint venture between BPCL, GAIL, and IGL, is getting ready to list through an initial public offering (IPO) for more than Rs. 1000 crore. Accordingly, the BPCL Board has approved the IPO in principle, pending regulatory and other approvals, the firm stated in an exchange filing.