GAIL India Ltd is keen to acquire 5.2% stake in Petronet LNG from Asian Development Bank for over Rs 600 crore for it. ADB has offered to sell its 39 million shares or 5.2% stake in Petronet, which is valued at over R614 crore at Monday’s trading price of Rs 157.85 per share.GAIL, ONGC, IOC and BPCL hold a 12.5% stake each, to restrict the public sector holding in the company at 50%. GdF holds 10%. Under the share holders’ agreement (SHA), the five have the first right of refusal over ADB stake.
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