BG Asia Pacific Holdings Pte Ltd, a subsidiary of of Shell India, on Wednesday said it has sold 8.5% stake in Mahanagar Gas Ltd.
After a block deal on stock exchanges, Shell's share in Mahanagar Gas has descended from 32.50% to 24%.
This is a piece of Shell's continuous portfolio streamlining to change Shell into a more simpler organization, delivering stronger returns.
"We trust in the key part that gas will play in India and keep on seeking openings in that field," Shell said in a press articulation.
"Our interest in the Hazira LNG getting terminal in Gujarat and the current formation of Shell Energy India, our gas marketing and trading business, demonstrates our sense of duty regarding develop in India and to expand gas penetration in the nation," the organization included.
Other investors of Mahanagar Gas incorporate GAIL (India) Ltd with 32.50%, government of Maharashtra with 10% and public shareholders 25%.
