Gujarat Energy Limited has completed the distribution of net sale proceeds from fractional shares arising out of its composite scheme of amalgamation and arrangement. The company credited the amounts to eligible shareholders on August 7, 2026, following the sale of consolidated fractional entitlements by the appointed independent trustee.

The distribution relates to shareholders of erstwhile Gujarat State Petroleum Corporation Limited and Gujarat State Petronet Limited who held fractional entitlements after the scheme became effective on May 1, 2026. Under the sanctioned scheme, 62,27,14,719 equity shares of face value ₹2 each were allotted to shareholders of GSPC and GSPL based on the record date of May 12, 2026.

Scheme Mechanics and Share Exchange

The allotment followed specific share exchange ratios approved under Sections 230 to 232 of the Companies Act, 2013. The Ministry of Corporate Affairs sanctioned the scheme via an order dated April 8, 2026. The key exchange parameters were:

• GSPC Shareholders: Received 10 fully paid equity shares of ₹2 each for every 305 fully paid equity shares of ₹1 each held.
• GSPL Shareholders: Received 10 fully paid-up equity shares of ₹2 each for every 13 fully paid equity shares of ₹10 each held.

A total of 35,20,17,714 equity shares were allotted to GSPC shareholders, while 27,06,97,005 equity shares were allotted to GSPL shareholders.

Fractional Share Consolidation and Sale

IDBI Trusteeship Services Limited was appointed as the Independent Trustee to manage the fractional entitlements. The trustee consolidated and aggregated the fractional shares, allotting the corresponding whole shares in trust for the benefit of eligible shareholders.

The trustee executed the sale of these consolidated fractional shares on July 20, 2026, at prevailing market prices. After deducting applicable expenses and charges, the net sale proceeds were transferred to Gujarat Energy for distribution. The company completed the credit of these proceeds to eligible shareholders on August 7, 2026, after deducting applicable tax at source (TDS) where required.

What the Numbers Show

The scale of the share consolidation highlights the significant restructuring involved in the demerger. With over 62 crore new equity shares issued to transferor company shareholders, the fractional share mechanism was essential to ensure equitable value distribution without issuing sub-unit holdings. The timely completion of the sale and distribution within three months of the scheme’s effective date indicates efficient execution of the post-sanction logistical requirements.

Shareholder Verification

Shareholders are advised to verify the credited amounts against their bank statements or passbooks. In case of discrepancies or non-credit, shareholders may contact their banks using the electronic credit reference numbers provided in the intimation email. TDS certificates will be issued as per statutory timelines under the Income Tax Act, 2025.

For further clarifications, shareholders may contact the Registrar and Share Transfer Agent, M/s. KFin Technologies Limited, quoting their Folio number or DP-Client ID.

Gujarat Energy Limited has scheduled its 14th Annual General Meeting (AGM) for Tuesday, September 29, 2026. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means in compliance with Ministry of Corporate Affairs and SEBI circulars.

The company has also finalized key dates related to the AGM and potential dividend payout for FY26.

Key Dates for Shareholders

Shareholders must be on the register as of the close of business on September 11, 2026, to receive any dividend declared at the meeting. The payout will be made to beneficial owners listed by depositories and physical shareholders with valid transfers processed by that date.

E-voting and Notice Details

Remote e-voting will commence at 9:00 am on Friday, September 25, 2026, and conclude at 5:00 pm on Monday, September 28, 2026. The cut-off date to determine voting eligibility is September 22, 2026.

In line with regulatory guidelines, the AGM notice and the Annual Report for FY26 will be dispatched electronically to members with registered email addresses. Physical copies will not be sent unless specifically requested under applicable regulations.

The company secretary, Sandeep Dave, confirmed these arrangements in a regulatory filing dated August 27, 2026.