Gujarat State Petronet Limited has confirmed that it has not created any encumbrance, directly or indirectly, on its equity shares held in Gujarat Gas Limited during the financial year ended March 31, 2026. This disclosure was submitted to the stock exchanges to comply with regulatory requirements regarding shareholding status.

Regulatory Disclosure

The confirmation was provided pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As a promoter of Gujarat Gas Limited, the company stated that no encumbrance was made on the shares held during the specified period.

Shareholding Details

The disclosure specifically covers the equity shares held by the promoter in Gujarat Gas Limited. The key details of the shareholding are outlined below.

The communication, dated April 4, 2026, was addressed to the stock exchanges and the Company Secretary of Gujarat Gas Limited for intimation to the Audit Committee.

Gujarat Gas Limited has officially confirmed that the GSPC Group's Composite Scheme of Arrangement became effective on May 1, 2026, following the filing of e-Form INC-28 with the Registrar of Companies, Ahmedabad. The scheme involves the amalgamation of Gujarat State Petroleum Corporation (GSPC), Gujarat State Petronet Limited (GSPL), and GSPC Energy Limited into Gujarat Gas Limited, alongside the demerger of the gas transmission business into GSPL Transmission Limited (GTL).

Official Regulatory Filing and Compliance

The company has fulfilled all regulatory requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. All companies involved in the composite scheme filed certified copies of the MCA Order along with the scheme documentation through e-Form INC-28 on the effective date. The scheme was sanctioned by the Ministry of Corporate Affairs on April 17, 2026, and received shareholder approval with overwhelming majority support in October 2025.

Corporate Restructuring Framework

Under the approved scheme, three transferor companies have been dissolved without winding up and amalgamated with Gujarat Gas Limited. The Gas Transmission Business Undertaking has been demerged into GSPL Transmission Limited as the resulting company. This restructuring creates a streamlined group holding structure within the GSPC Group while ensuring compliance with regulatory requirements for gas transmission business independence.

Share Exchange and Allotment Details

Gujarat Gas will issue an aggregate of 62,27,14,719 equity shares of ₹2 each to shareholders of GSPC and GSPL. The Record Date for share allotment has been fixed as May 12, 2026, as approved by the board of directors during their meeting on April 29, 2026. GSPC shareholders will receive 10 equity shares of GGL for every 305 equity shares held, while GSPL shareholders will receive 10 equity shares of GGL for every 13 equity shares held.

Business Transformation and Strategic Vision

With the scheme implementation, GGL transforms into a strengthened integrated energy company encompassing Gas Trading, Exploration & Production, and Wind Power Generation businesses alongside its core City Gas Distribution operations. The company will maintain investments in diversified energy businesses including gas-based power generation, LNG Terminal operations, and information technology services. Given the expanded business scope, Gujarat Gas Limited will be renamed Gujarat Energy Limited.

Simultaneously, GTL will operate as a pure-play gas transmission entity with approximately 2800 KMs of gas pipeline network in Gujarat and investments in cross-country pipelines. The Government of Gujarat will hold approximately 38.80% direct shareholding, with total GoG-controlled entities maintaining around 56% holding in both listed entities, while public shareholders will hold the remaining stake.