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GAIL to invest in Start-Ups operating in the area of Compressed Bio Gas, Solicitation Round open tm July 24, 2020

Posted On: 2020-07-10 00:58:38


In a bid to support Start-Ups operating in the area of Compressed Bio Gas {CBG), GAIL (India) Limited today announced plans to invest in such companies through its Start-Up initiative 'Pankh'.

GAIL has opened a fresh R.ound for Solicitation of Investment Proposals from Start-Ups operating specifically in the area of CBG. The Start-Ups that are interested in equity investment from GAIL can apply on GAil's website gailonline.com. The Solicitation Round is open till July 24, 2020.

India has vast biomass resources and the Government is giving special emphasis on its utilization by encouraging setting-up of CBG plants. Further, Oil & Gas Companies are ready to give commitment for offlake of CBG through issue of Letter Of Intent (LOI). Thus, it provides good business opportunity to Start-Ups operating in this area.

Start-Ups operating in any of the following areas of CBG can apply in this round:

(i) Start-Ups providing technology,
(ii) Start-Ups planning to expand their existing CBG plants
(iii) Start-Ups planning to set-up new CBG Plants

GAIL had launched its ambitious Start-Up initiative 'Pankh' in July 2017 to invest in promising Start-Ups. So far, GAIL has made investments in 24 Start-Ups operating in various areas through four Solicitation Rounds.

Shares of GAIL (INDIA) LTD. was last trading in BSE at Rs.105.5 as compared to the previous close of Rs. 102.7. The total number of shares traded during the day was 1779524 in over 12712 trades.

The stock hit an intraday high of Rs. 107.45 and intraday low of 103.1. The net turnover during the day was Rs. 188387734.


Source: Equity Bulls

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