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M&A activity rises in city gas distribution segment
In the past one year, Torrent has acquired four CGD firms, including the latest of Sanwariya Gas Ltd. Photo: Bloomberg
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City gas distributor Torrent Gas Pvt. Ltd is close to buying Mathura-based Sanwariya Gas Ltd for around ₹140 crore, a person aware of the matter said, as consolidation continues in India’s city gas distribution (CGD) sector.
This is the fourth acquisition in the last one year for Torrent Gas, part of Gujarat-based Torrent Group, after buying Mahesh Gas in Pune from the Mahesh Group, and Siti Energy in Moradabad and Dholpur from the Essel Group.