Gujarat Gas Limited has officially set May 12, 2026 as the record date for determining shareholders eligible for equity share allotment under its composite scheme of arrangement. The board of directors approved this decision during their meeting held on April 29, 2026, following receipt of the sanctioning order from the Ministry of Corporate Affairs on April 17, 2026.

Composite Scheme Details

The composite scheme of arrangement involves four companies: Gujarat State Petroleum Corporation Limited (GSPC), Gujarat State Petronet Limited (GSPL), and GSPC Energy Limited (GEL) as transferor companies, with Gujarat Gas Limited serving as the transferee company and GSPL Transmission Limited as the resulting company.

Share Issuance and Exchange Ratios

The company will issue an aggregate of 62,27,14,719 equity shares of ₹2 each to shareholders of GSPC and GSPL. The distribution follows specific share exchange ratios established under the scheme as per the official regulatory filing.

Corporate Name Change and Governance Updates

As part of the composite scheme, Gujarat Gas Limited will change its name to Gujarat Energy Limited pursuant to Clause 64 of the arrangement. The name change will become effective upon filing necessary forms and receiving approvals from the Registrar of Companies, Ahmedabad. The board has also approved consequential changes in various company policies and codes to reflect this name change, along with adoption of altered Memorandum and Articles of Association effective from the scheme's implementation date.

Regulatory Compliance and SEBI Requirements

The scheme has received comprehensive regulatory approval, with shareholders of GSPC, GSPL, and Gujarat Gas Limited having approved the arrangement at their respective meetings held on October 17, 2025. These meetings were convened based on directions from the Ministry of Corporate Affairs dated September 10, 2025. The company has fulfilled all requirements under Regulation 30 and 42 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Implementation Timeline

The effective date of the scheme is expected to be around May 1, 2026, coinciding with the filing of e-Form INC-28 with the Registrar of Companies, Ahmedabad. The record date of May 12, 2026 will determine eligible shareholders for the new equity share allotment under the approved composite scheme of arrangement.

Gujarat Gas Limited has announced comprehensive support measures to revive Morbi's ceramic industry through assured gas supply and price stability amid recent geopolitical disruptions. The company's strategic intervention addresses critical infrastructure requirements for one of India's key ceramic manufacturing hubs.

Crisis Response and Recovery Initiative

The recent geopolitical crisis led to surge in raw material costs, restrictions on industrial propane usage, and increased freight expenses. These challenges prompted several ceramic units in Morbi to voluntarily suspend operations starting mid-March 2026, affecting the livelihood of more than 2 lakh workers.

Gujarat Gas responded by proactively sourcing natural gas from non-Middle East markets at spot rates to maintain continuous supply in line with Government of India directives. The company's Geographical Area and Corporate teams engaged extensively with industry stakeholders, including the Morbi Ceramic Association, to facilitate restart of operations.

Operational Recovery Metrics

The revival efforts have shown significant positive results. Industrial activity in Morbi has gradually resumed, with substantial improvements in gas consumption and active units.

Future Projections and Support Measures

Gujarat Gas has addressed key industry concerns related to gas availability, pricing, and supply volumes. The company has initiated execution of gas supply agreements with ceramic units, providing operational certainty to manufacturers.

The number of active gas consumers is expected to increase from the current approximately 290 units to approximately 675-700 units. Total gas consumption is projected to reach 6-7 mmscmd in May 2026.

Strategic Commitment

Leveraging its diversified sourcing strategy, Gujarat Gas has assured customers of uninterrupted gas supply along with price certainty for the entire month of May 2026. This commitment has boosted confidence among manufacturers and is expected to accelerate the revival of production across the cluster.

The company is also facilitating PNG connections for employee canteen facilities within manufacturing units, further strengthening the overall ecosystem. The resumption of operations is set to benefit nearly 2 lakh workers who were impacted by the temporary shutdown during the crisis.