GAIL shareholding in Konkan LNG rises to 100% as MSEB stake extinguished under NCLT-approved reduction

New Delhi: GAIL (India) Limited has become the sole shareholder of Konkan LNG Limited (KLL) following the exit of MSEB Holding Company Limited (MSEB), after implementing a National Company Law Tribunal (NCLT)-approved scheme for the reduction of KLL's equity share capital, the Maharatna PSU told the stock exchanges in a regulatory filing on Friday.

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Capital reduction implemented after NCLT nod

In its filing to the National Stock Exchange (NSE) and BSE, GAIL said the reduction was carried out pursuant to the NCLT order dated June 3, which approved the scheme for reduction of KLL's equity share capital. The disclosure was made in continuation of GAIL's earlier letter dated June 10.

Consideration remitted on July 6

GAIL said the consideration under the scheme was paid earlier this month. According to the filing, "the consideration was remitted to GAIL (India) Limited (GAIL) on 06.07.2026." GAIL added that, as informed by KLL, "the consideration was also remitted to MSEB Holding Company Limited (MSEB) on same date i.e. on 06.07.2026."

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14.81 crore shares cancelled, MSEB holding reduced to Nil

On the outcome, GAIL stated in the filing: "An aggregate of 14,81,10,440 equity shares of Rs 10 each, including 7,40,55,220 equity shares held by GAIL and 7,40,55,220 equity shares held by MSEB in KLL stand cancelled and extinguished i.e. MSEB holding in KLL reduced to Nil and GAIL shareholding increased to 100 percent of the equity share capital of KLL."

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