GAIL (India) has announced the acquisition of a 49% equity stake in Leafiniti Bioenergy Private Limited (LBPL) for a cash consideration of ₹13,54,32,150. LBPL, which operates a Compressed Bio Gas (CBG) plant with a capacity of 10.2 tonnes per day in Karnataka, reported a turnover of ₹28.42 crore for the financial year 2024-25.
The acquisition, which does not fall under related party transactions, is part of GAIL‘s strategic initiative to expand its footprint in the biofuel sector. The company plans to set up new CBG projects through its partnership with LBPL. The acquisition has received the necessary regulatory approvals from the Ministry of Petroleum and Natural Gas (MOPNG) and the Department of Investment and Public Asset Management (DIPAM).
The transaction involves the purchase of 1,35,43,215 equity shares at a face value of ₹10 per share. LBPL, incorporated in December 2021, specialises in the production of CBG using press mud and has shown significant growth in its turnover over the last three years, with ₹10.10 crore in FY 2023-24 and ₹9.29 crore in FY 2022-23.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).