Mahanagar Gas Limited — JV/Acquisition, 09-03-2026: Acquisition

Mahanagar Gas (MGL) is making a strategic investment of Rs 3.89 Cr to acquire a 26% equity stake in FPEL Reliant Energy Private Limited. This move targets the establishment of a solar power plant in Maharashtra. The core rationale is to meet MGL's green energy requirements, significantly optimize energy costs for its CNG stations, and align with power consumption regulations. This acquisition represents a key step towards sustainable operations, integrating renewable energy generation directly into MGL's infrastructure and making FPEL Reliant an associate company.