
Sabarmati Gas is a joint venture with BPCL, set up in 2006, for the development of city gas distribution networks in north Gujarat. We hold a 11.2% equity interest and our subsidiary, GSPL holds a 13.7% equity interest in Sabarmati Gas, BPCL holds a 25.0% equity interest, other institutional investors collectively hold a 49.8% equity interest and certain senior members of our and BPCL’s management hold the remaining fractional shareholding in Sabarmati Gas.