GAIL to list city gas arm GAIL Gas via IPO in FY28, sell 25% stake

GAIL's board has given in-principle approval to list its wholly owned subsidiary GAIL Gas through an IPO, expected in 2027-28, with the parent diluting 25% of its stake. GAIL Gas runs 593 CNG stations and over 8 lakh domestic PNG connections, and plans to add 275 CNG stations and about 3.7 lakh PNG connections over the next two years.