TIL Desk/Business/Mumbai/ State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani’s gas arm and Total of France — Adani Total Gas Ltd — have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
IOC bid for 53 out of 61 geographical areas or GAs that received bids in the 11th city gas licensing round that closed on December 15, according to bid details made public by the sector regulator — Petroleum and Natural Gas Regulatory Board (PNGRB).
Adani group had originally ventured into city gas business in a joint venture with IOC but it later tied up with Total. Adani and IOC did not put any combined bid in the latest bidding round. PNGRB had bid out 65 GAs including Jammu, Nagpur, Pathankot and Madurai in the latest licensing round. Four GAs in Chhattisgarh did not receive a single bid. I Squared Capital-backed Think Gas Distribution Pvt Ltd was the third largest bidder as it put in offers for 44 GAs.
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