Gujarat State Fertilizers & Chemicals Ltd has received approval from the Government of Gujarat to significantly reduce its shareholding in its subsidiary, Gujarat Port & Logistics Company Limited (GPLCL). The company's stake in GPLCL will decrease from 60% to 11% following the approval, which also mandates a revision in the composition of GPLCL's Board of Directors. The approval letter, referenced as PTD/MSM/e-file/22/2022/1346/GH-1, was dated June 24, 2026, and received by the company on June 25, 2026.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that it would take all necessary actions in accordance with the letter and update the exchanges upon the occurrence of material events. The subsidiary, Gujarat Port & Logistics Company Limited, has not yet commenced operations, and its turnover as of March 31, 2026, was nil.

The revised shareholding pattern outlines the distribution of stakes among government entities. Gujarat Maritime Board will increase its holding to 52%, while Gujarat Industrial Development Corporation and Gujarat Rail Infrastructure Development Corporation will acquire new stakes of 26% and 11%, respectively. The total paid-up share capital of GPLCL will rise to Rs.25,00,00,000 under the proposed structure.

Revised Shareholding Pattern

The company clarified that the transaction is not currently classified as a related party transaction but will inform the exchanges if this status changes upon the completion of the sale. The expected date of completion and the consideration amount are yet to be ascertained. No agreement for sale has been entered into as of the disclosure date.

Gujarat State Fertilizers & Chemicals Ltd. announced that Mr. S. V. Varma, Executive Director (Agri Business, HR & IR), has resigned from his services effective from the close of business hours on April 28, 2026. Mr. Varma, who was designated as a Senior Management Personnel (SMP), is departing to accept the position of Managing Director at Indian Potash Limited after more than 35 years of service with the company.

The company disclosed this information in compliance with Regulation 30 read with Schedule III, Part A, Para A (7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to the exchanges via a letter dated June 02, 2026, referencing the initial announcement made on April 28, 2026. The company attributed the delay in submitting the resignation letter within seven days from the effective date of resignation to an inadvertent oversight.

Reason for Resignation

Mr. Varma resigned to pursue opportunities outside the organization, specifically to take on the role of Managing Director at Indian Potash Limited. In his resignation letter, he expressed gratitude for the professional growth opportunities provided during his tenure, which began in 1990 as an Engineer Trainee. He previously declined an offer to become Managing Director of HURL in 2023 to continue his service with GSFC.

Management Change Details

The following table summarizes the key details regarding the change in management as per the company's disclosure: