Gujarat Energy Limited confirmed that 31.27 crore equity shares of its subsidiary, GSPL Transmission Limited, will be listed and admitted for trading on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) effective September 30, 2026. The listing follows the final approval received from both exchanges on September 28, 2026.

This development is part of the Composite Scheme of Amalgamation and Arrangement involving Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Energy Limited (formerly Gujarat Gas Limited), and GSPL Transmission Limited. The scheme, approved by the Ministry of Corporate Affairs in April 2026, resulted in the demerger of the Gas Transmission Business Undertaking from Gujarat Energy into GSPL Transmission.

Listing Details and Trading Mechanics

The shares allotted to existing shareholders are fully paid-up equity shares with a face value of ₹10 each. Upon listing, GSPL Transmission will trade under the symbol GSPLTRANS on both exchanges. The security will initially be placed in the Trade-for-Trade segment for 10 trading days before moving to the regular equity segment, subject to regulatory compliance.

Scheme Implementation Timeline

The allotment of shares was executed pursuant to the scheme where every three fully paid-up equity shares of Gujarat Energy (face value ₹2 each) held by shareholders as on the record date were exchanged for one fully paid-up equity share of GSPL Transmission (face value ₹10 each). The record date for this entitlement was July 2, 2026, with the date of allotment falling on July 8, 2026.

Prior to the scheme, GSPL Transmission had a paid-up capital of ₹5 lakh consisting of 50,000 shares. This capital was cancelled, and the new issued, subscribed, and paid-up equity capital stands at ₹312.74 crore following the arrangement.

What the Numbers Show

The listing creates a distinct market entity for the gas transmission assets previously housed within Gujarat Energy. With a paid-up capital of ₹312.74 crore post-arrangement, GSPL Transmission enters the public market with a substantial equity base. The conversion ratio of 1:3 implies that the market valuation of the demerged entity will directly impact the effective value of holdings for existing Gujarat Energy shareholders, separating the transmission business's performance from the broader energy portfolio.

Gujarat Energy has been assigned M/s. Dhirubhai Shah & Co. LLP as its statutory auditor for FY27 by the Comptroller and Auditor General of India.

The appointment was communicated via letter dated September 10, 2026, under section 139 of the Companies Act, 2013. The firm, based in Ahmedabad with registration number WR0141, will audit the company’s financial statements for the period ending March 31, 2027.

Audit Scope and Responsibilities

The statutory auditor will also serve as the auditor for the consolidated financial statements, as per section 139 read with section 129(4) of the Companies Act, 2013. This aligns with the requirement that the holding company’s statutory auditor oversees consolidated reporting.

Supplementary and test audits under sections 143(6) and 143(7) of the Companies Act, 2013 have been entrusted to the Principal Accountant General (Audit-II), Gujarat. The office is located at Audit Bhavan in Ahmedabad.

Remuneration and Compliance

Remuneration payable to the auditors is regulated under section 142 of the Companies Act, 2013, along with guidelines issued by the Department of Company Affairs. These include circulars dated April 8, 1976, and June 7, 1984.

The company must inform the CAG office of any revision in audit fees for FY27, including consolidation fees. It must also disclose item-wise details of remuneration paid for non-statutory services and travel allowances for FY26 once those accounts are finalized.

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.