Gujarat Energy Limited has received no-objection letters from both the National Stock Exchange (NSE) and BSE for the reclassification of Gujarat State Energy Generation Limited (GSEG) from the "Promoter" category to the "Public Shareholder" category. The exchanges granted approval on October 13, 2026, following the company's application submitted earlier in August.

Regulatory Compliance and Timeline

The reclassification was processed under Regulation 31A(8)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action follows prior intimations by the company dated August 3, August 11, and August 13, 2026, regarding the proposed change in shareholder categorization.

The NSE issued its no-objection letter vide reference NSE/LIST/COMP/GUJENERGY/630/2026-2027, while the BSE issued its corresponding letter under reference LIST/COMP/MB/239/2026-27. Both letters were dated October 13, 2026.

Shareholding Details

The reclassification affects a specific holding within the promoter group. The details of the shares involved are outlined below:

Compliance Obligations

Both exchanges have directed the listed entity to ensure compliance with all subsequent relevant disclosures of material events related to this reclassification. These obligations must be met in accordance with the applicable provisions of Regulation 31A of the SEBI (LODR) Regulations, 2015.

The company’s Company Secretary, Sandeep Dave, confirmed the receipt of these letters on behalf of Gujarat Energy Limited, formerly known as Gujarat Gas Limited. The registered office is located in Gandhinagar, Gujarat.

Gujarat Energy Limited declared a dividend of ₹8.90 per equity share for the financial year ended March 31, 2026. The payout was approved during the company's 14th Annual General Meeting held on September 29, 2026.

The total dividend amount aggregates to ₹835 crore (₹835,02,54,556.10), distributed across 93,82,30,849 equity shares with a face value of ₹2 each. This decision marks a significant return to shareholders for the fiscal year.

Voting Results and Resolution Status

The company has disclosed the detailed voting results from the AGM, confirming that all five resolutions set forth in the notice were passed with the requisite majority. The scrutinizer's report, issued by Kiran Kumar Patel of M/s K. K. Patel & Associates, validated the votes cast through remote e-voting and e-voting during the meeting.

Key voting outcomes include:

• Adoption of Financial Statements: Passed with 99.98% votes in favour.
• Dividend Declaration: Passed with 99.99% votes in favour.
• Re-appointment of Director: Dr. T. Natarajan, IAS, was re-appointed with 92.12% votes in favour.
• Auditor Remuneration: Authorization for statutory auditor remuneration passed with 93.27% votes in favour.
• Cost Auditor Ratification: Ratification of cost auditor remuneration passed with 99.99% votes in favour.

Key Resolutions Passed

Shareholders adopted several key resolutions during the virtual meeting chaired by Managing Director Avantika Singh Aulakh. The agenda included financial approvals and governance updates.

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of Dr. T. Natarajan, IAS, as Director liable to retire by rotation.
• Authorization for the Board to fix statutory auditor remuneration for FY27.
• Ratification of cost auditor remuneration of ₹1.40 lakh for FY27.

Governance and Leadership Updates

The meeting proceeded via video conferencing and other audio-visual means, in compliance with regulatory circulars. M K Das, IAS, Chairman, could not attend due to unavoidable circumstances, leading to Avantika Singh Aulakh chairing the session. Dr. T. Natarajan, IAS, was re-appointed after retiring by rotation and offering himself for re-election, ensuring continuity in board leadership.

Financial Payout Details

The dividend declaration represents a substantial cash outflow for the company. The specific breakdown of the payout is detailed below:

Meeting Proceedings

The Annual General Meeting commenced at 3:00 pm and concluded at 3:56 pm. A quorum required under the Companies Act, 2013, was present throughout the session. K K Patel & Associates were appointed as scrutinizers to oversee the e-voting process, which remained open for 15 minutes following the conclusion of the meeting to allow members to cast their votes.