Mahanagar Gas, which got listed on the bourses today, settled at a premium of 23.59% over to its issue price.  At the NSE, stock closed at Rs 520.30 a share as against issue price of Rs 421 a share.

Shares witnessed a high of Rs 548.95 and a low of Rs 518 after opening at Rs 540 that is 24.94% premium over to its issue price.

Mahanagar Gas (MGL) is one of the largest City Gas Distributor (CGD) company in India. It provides natural gas in Mumbai. Mahanagar gas is the sole supplier of CNG (compressed natural gas) and PNG (pipeline natural gas) in the financial capital of India Mumbai and adjoining areas like Thane, Navi Mumbai and Raigad district.