GAIL (India) Limited has increased its ownership in Konkan LNG Limited to 100% following the sanctioning of a capital reduction scheme by the National Company Law Tribunal (NCLT). The order, dated June 3, 2026, approves the cancellation of 14,81,10,440 equity shares, effectively removing the stake held by MSEB Holding Company Limited. This move consolidates GAIL's control over the subsidiary, altering the shareholding structure significantly.

Scheme Details and NCLT Order

Konkan LNG Limited had filed the scheme for the reduction of equity share capital before the Hon'ble NCLT during June 2025. The reduction was executed through the cancellation and extinguishment of shares forming part of the issued, subscribed, and paid-up equity share capital. The certified true copy of the NCLT order was received by the company on June 10, 2026.

Shareholding Restructuring

The implementation of the scheme has resulted in specific changes to the ownership of Konkan LNG Limited. The table below details the shares cancelled and the resulting shareholding percentages.

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GAIL (India) Limited has appointed Shri Kushagra Mittal as a Government Nominee Director on its Board, effective from June 4, 2026, until August 10, 2026. The appointment was made pursuant to a letter from the Ministry of Petroleum & Natural Gas (MoP&NG) regarding his nomination.

Shri Kushagra Mittal serves as a Director in the Ministry of Petroleum & Natural Gas. He is an officer of the Indian Railway Traffic Service (IRTS) from the 2010 batch. In his current role at the ministry, he oversees the Marketing division, including Pricing Policy and LPG verticals.

Prior to his tenure in the ministry, Mittal held various positions at Western Railway, including Senior Divisional Commercial Manager and Area Railway Manager, where he managed train operations and business development. Before joining the civil services, he worked with BHEL. He holds a B.Tech in Mechanical Engineering from MNNIT, Allahabad, and a Master's in Public Policy from IIM Bangalore, where he received the Director's Gold Medal.

The company confirmed that Mittal does not hold any shares in GAIL (India) Limited and has no inter-se relationships with other directors on the Board. It was further affirmed that he is not debarred from holding the position of a director by any SEBI order or other authority.