GAIL to invest in start-ups operating in focus areas through its PANKH Initiative

In a bid to support the Start-Ups operating in identified Focus Areas, Start-Ups (India) Limited today, April 5, 2021, announced its plans to invest in such companies through its Start-Up initiative 'Pankh'.

The company said, it has opened a fresh round for solicitation of investment Proposals from them startups operating in the focus areas, which mainly includes natural gas, petrochemicals, energy, project management, bio-manure marketing, nanomaterials, loT, data mining, environment, health and social. Further details of Focus Areas are available on GAIL's website under GAIL PANKH Section.

The Start-Ups that are interested in equity investment from GAIL can apply through the link 'GAIL PANKH' on GAIL's website https://gailonline.com. The Solicitation Round is open from March 30, 2021, to May 30, 2021.

GAIL India launched the Pankh initiative in July 2017 intending to identify, invest and nurture start-ups that can become successful companies in the long run and provide profitable returns from this diversification. As per reports, till now, GAIL has invested in 28 start-ups operating in various areas

At 2.45 pm on Monday, the share price of GAIL (India) Limited stood at Rs 135.65 on BSE, which was a decrease of 3.21 per cent from Thursday's closing day price of Rs 140.15.

Shares of GAIL (India) were trading 3.60 per cent lower at 3:17 pm today on NSE in line with the Nifty, which was trading 1.60 per cent down.