GAIL to unveil pipeline InvIT before split

The InvIT may involve selling 10-20% stake initially.

State-owned gas utility GAIL (India) Ltd. plans to unveil an InvIT of its two gas pipelines between Dahej and Bengaluru ahead of a proposed splitting of the pipeline business from the gas marketing function, sources said.

The firm plans to monetise Dahej-Uran-Panvel-Dabhol pipeline and Dabhol-Bengaluru pipeline by setting up an Infrastructure Investment Trust (InvIT), two sources with direct knowledge of the matter said.

GAIL will retain majority stake in the pipelines that run from Dahej in Gujarat to Dabhol in Maharashtra and from there to Bengaluru in Karnataka.

The InvIT may involve selling 10-20% stake initially, the sources said.

Source: Read Full Article