STOCKWATCH

Mahanagar Gas to Invest up to Rs. 385 Cr. in International Battery Company

Mahanagar Gas Ltd. has entered into a non-binding term sheet with International Battery Company Inc., a Delaware Corporation, for a proposed investment of up to Rs. 385 Cr. in International Battery Company Private Limited. The proposed joint venture will see Mahanagar Gas taking a stake of not less than 40% in the private limited company, subject to the execution of definitive agreements and fulfillment of other terms and conditions. The company will provide complete disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 after the signing of definitive agreements.

• Mahanagar Gas to invest up to Rs. 385 Cr. in International Battery Company
• Investment in International Battery Company Private Limited
• Proposed joint venture with a stake of not less than 40% for Mahanagar Gas
• Investment subject to execution of definitive agreements
• Mahanagar Gas to provide complete disclosure under SEBI regulations after signing definitive agreements