Mahanagar Gas Share Price in Focus; To Acquire 26% Stake in FPEL Reliant Energy

Mahanagar Gas Limited (MGL) has announced an investment in the renewable energy space as the city gas distributor looks to support its operational energy needs through solar power. 

Investment in Solar Power Project 

Mahanagar Gas will acquire a 26% equity stake in FPEL Reliant Energy Private Limited through an investment of ₹389 lakh. The company has signed a share subscription and shareholders’ agreement to complete the transaction. 

The investment is aimed at developing a solar power project in Maharashtra, which will generate electricity primarily for use at MGL’s CNG stations. 

Purpose Behind the Renewable Energy Move 

The company said the investment will help meet its green energy requirements while also supporting efforts to optimise energy consumption costs for its operations. 

FPEL Reliant Energy Private Limited is a renewable energy company engaged in solar power generation. The company was incorporated on July 5, 2022, and operates in the solar energy segment in India. 

Company Background 

Financial disclosures indicate that the company reported no turnover in FY23, FY24 and FY25, while its net worth stood at ₹-4.73 lakh as of March 31, 2025. 

Once the transaction is completed, FPEL Reliant Energy Private Limited will become an associate company of Mahanagar Gas Limited. 

Read More: India Invokes ESMA Powers, Directs Refiners to Increase LPG Production Amid Supply Risks! 

Mahanagar Gas Share Price Performance  

As of 10 March 2026, at 9:35 AM, Mahanagar Gas Limited share price is trading at ₹1,040.10 per share, reflecting a decline of 0.21% from the previous closing price. Over the past month, the stock has declined by 11.40%. 

Conclusion 

The investment is expected to be completed within six months, allowing Mahanagar Gas to integrate solar power generation into its operations and strengthen the use of renewable energy for its CNG infrastructure. 

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