Maithan Alloys Limited has informed the Exchange about acquisition of Equity Shares through Stock Exchange
MAITHANALL · price
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Awaiting price reaction for this filing.
Maithan Alloys Limited has bought 6,25,000 equity shares (0.01% stake) of GAIL (India) Ltd. through the stock exchange on 11th June 2025 for a total cost of Rs. 12.36 crore in cash. GAIL is India's largest state-owned natural gas processing and distribution company, with a turnover of Rs. 1,37,288 crore and net worth of Rs. 63,241 crore as of March 2025. Maithan Alloys stated this is purely an investment aimed at long-term/short-term benefits and it does not intend to take any control over GAIL's management. The deal is not a related-party transaction and was done at arm's length.
This is a small portfolio investment by Maithan Alloys in a large PSU and is unlikely to have any meaningful impact on Maithan Alloys' stock price. Shareholders should note the company is using its cash to invest in other listed equities, which diversifies its treasury but is not core to its alloy business.