Indraprastha Gas Ltd (IGL), is in the business of City Gas Distribution (CGD) in the National Capital Region (NCR). Vast untapped potential, inelastic nature of demand and the first mover advantage makes IGL a low risk high growth proposition for investment. Key Investment Highlights Assured Natural Gas supply and attractive pricing of CNG and PNG to encourage usage With India expected to be a surplus gas state by 2012 and firm gas supply agreements in place (with its parent GAIL for over 2.2 mmscmd and RIL’s KG-6 gas for 0.308 mmscmd, scaleable to 2.1 mmscmd over 5 years), IGL foresees no problem in satisfying the burgeoning demand for gas in the NCR region in the medium term. Also the economic pricing of CNG (~71% cheaper than petrol and ~56% than diesel) & PNG (~20% cheaper than subsidized LPG), pan India development of the gas infrastructure, pricing linkages of natural gas to crude and gradual phasing out of petro-subsidies will ensure that natural gas will eventually become the fuel of choice.