MNGL, a joint venture of BPCL, GAIL (India) and Indraprasth Gas (IGL) is preparing to list through an IPO of over Rs 1000 crore, subject to regulatory and other approvals.

Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 30 September 2024.

GAIL (India) is the largest state-owned natural gas processing and distribution company in India. The company has a diversified business portfolio and has interests in the sourcing and trading of natural gas, production of LPG, liquid hydrocarbons, and petrochemicals, transmission of natural gas and LPG through pipelines, etc. GAIL has also participated in interest in India and overseas in oil and gas blocks. The Government of India holds 51.92% in the paid-up equity capital of the company as of 30 September 2024.

Indraprastha Gas is a natural gas distribution company. It supplies natural gas as cooking and vehicular fuel.

Shares of BPCL declined 0.60% to Rs 283 while GAIL (India) rose 1.38% to Rs 187.10 and IGL added 0.87% to Rs 428 on the BSE.

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