The Sudhir Mehta-led Torrent Group, which has been eyeing opportunities in City Gas Distribution (CGD) business for over a decade, is finally set to realise it. The company is set to acquire stake in Mahesh Resources, which is setting up a gas distribution network in Pune. Sources said that Torrent is set to acquire 49 per cent stake in Haryana-based Mahesh Resources marking its foray into CGD business. Mahesh Resources is a very small company, but it will allow us to enter the new business. Torrent is the third large corporate house from Ahmedabad to foray into city gas distribution business – the others being Adani Group, and Cadila Pharma Group.

Source: dna February 27, 2018 00:33 UTC