GAIL (India) Limited, in a significant strategic move, has announced the formation of a wholly-owned subsidiary. The decision, approved during the company’s Board meeting on December 20, 2024, aims to establish the subsidiary as a finance company at the Gujarat International Finance Tec-City (GIFT City) in Gujarat.
Purpose of the Subsidiary
The newly-formed entity will operate as a finance company under the regulatory frameworks of the International Financial Services Centre (IFSC). Its core activities will include:
- Ship leasing operations.
- Establishing global and regional corporate treasury centers.
- Engaging in other permissible financial activities as per applicable regulatory guidelines.
Strategic Importance
This move aligns with GAIL’s broader vision of expanding its international financial operations. By leveraging the facilities and global access provided by GIFT City, the company aims to optimize its operational efficiency and financial structuring.
The Board meeting, which commenced at 11:00 a.m. and concluded at 1:15 p.m., also highlights GAIL’s commitment to exploring innovative avenues for growth and international collaboration.
This initiative represents a forward-looking step for GAIL, reinforcing its position as a key player in India’s energy and financial sectors.
