The Economic Times  6 hrs ago  Comment 
Mahanagar, which collected over Rs 1,040 crore through the issue, was subscribed 64.5 times. The IPO closed on June 23.
The Hindu Business Line  Jun 23  Comment 
The initial public offer of city gas distribution company Mahanagar Gas was subscribed over 64 times, on the third and final day of the offer. The company, India’s second-biggest compressed natural g...
The Economic Times  Jun 22  Comment 
The issue received bids for 6,80,27,645 shares, which were 3.92 times the total issue size of 1,73,46,150 shares, data available with stock exchanges BSE and NSE showed.
The Hindu Business Line  Jun 21  Comment 
The initial public offering of Mahanagar Gas was subscribed fully on the first day itself, thanks to qualified institutional investors (QIB) and retail investors.All-round responseAccording to data ...
The Hindu Business Line  Jun 20  Comment 
Mahanagar Gas, the city gas distributor for Mumbai, raised ₹309.3 crore from 25 anchor investors a day before its IPO opened. BNP Paribas, Morgan Stanley, DB International Asia, Abu Dhabi Investment...
The Hindu Business Line  Jun 20  Comment 
The Hindu Business Line  Jun 20  Comment 
The Economic Times  Jun 20  Comment 
The gas distribution company has set the price range for its IPO at Rs 380-421. At the upper band of the price band, MGL’s FY18E PE ratio stands at 10.7 times.
The Hindu Business Line  Jun 19  Comment 
Good demand prospects and assured supply for a chunk of its business lend strength
The Economic Times  Jun 16  Comment 
Mahanagar Gas, the sole supplier of CNG and PNG in Mumbai, has set the price range for its IPO at Rs 380-421. The issue opens for subscription next week.
The Hindu Business Line  Jun 15  Comment 
Company has plans to add 83 CNG stations to existing 188 stations
The Hindu Business Line  Jun 14  Comment 
Price band for ₹1,039-cr issue is fixed at ₹380-421


Mahanagar Telephone Nigam Limited (NYSE: MTE) is an Indian telecommunications company competing in the high growth industries of mobile communications and internet service. Mahanagar was the original monopoly provider of fixed-line telephone services in Mumbai and Delhi, but has since the mid 1990s and the opening up of the Indian telecom industry, faced rapid growth and subsequent consolidation of private sector competition.[1] The Indian government continues to hold 56.25% of the company's equity shares despite the government's stated strategy of moving towards open-market policies and their simultaneous granting of licenses to Mahangar's competitors.[2]


  1. MTE 2007 20-F, Item 4: Information on the Company, page 10-49
  2. MTE 2007 20-F, Item 7: Major Shareholders and Related Party Transactions, page 70-71
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