Gujarat State Petronet Ltd, the Natural gas transmission company is slated to buy 28.4% stake in Gujarat Gas from Gujarat State Petroleum Corporation.
CNBC TV18
@moneycontrolcom
Gujarat State Petronet Ltd, the Natural gas transmission company is slated to buy 28.4% stake in Gujarat Gas from Gujarat State Petroleum Corporation, taking their stake to 54% from current 25.8%, making it a subsidiary.
Throwing more light on the development, Manish Seth, CFO of Gujarat State Petronet Ltd told CNBC-TV18 that the deal was not with a motive to bail out GSPC.
“The company will have to take short-term debt to fund the deal and will be paying Rs 3200 crore for the deal”, he said.
