Adani Gas jumps 18% as French energy company Total agrees to buy 37.4% stake
Updated : October 14, 2019 09:28 AM IST
Shares of Adani Gas surged 18 percent after the company informed that French energy giant Total SA would buy a 37.4 percent stake in the Indian gas distribution company.
Total will launch an open offer to buy up to 25.2 percent in Adani Gas from public shareholders at Rs 149.63 per share, valuing the stake at Rs 4,147 crore.
The French company will buy the remaining 12.2 percent from Adani Family, according to a statement.