GAIL establishes wholly owned subsidiary in IFSC at GIFT City, Gujarat
The subsidiary will operate as a finance company in IFSC GIFT City, Gujarat to undertake Global and Regional Corporate Treasury Centers activities.
State run Gas utility firm, Gail (India) Ltd has incorporated a wholly owned subsidiary, Gail Global IFSC Ltd with authorised share capital of Rs 17 crore with initial paid up capital of Rs 8.50 crore.
The subsidiary will operate as a finance company in IFSC GIFT City, Gujarat to undertake Global and Regional Corporate Treasury Centers activities.
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The Ministry of Petroleum and Natural Gas has conveyed the approval of DIPAM for the formation of a wholly owned subsidiary of Gail in the International Financial Service Center at GIFT City in Gujarat.
Shares of the Gail(India) were trading higher by 2.29 pc at Rs 172.90 at 3:30 pm.
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