Gujarat Gas fixes July 2 record date for GTL share allotment
Gujarat Energy Limited has fixed July 2, 2026 as Record Date 3 to determine shareholders eligible for the allotment of equity shares in GSPL Transmission Limited under a composite scheme. The share exchange ratio is set at 1 fully paid-up equity share of ₹10 each for every 3 shares of ₹2 each held in Gujarat Energy Limited.
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Gujarat Gas Limited, now known as Gujarat Energy Limited, has fixed July 2, 2026 as Record Date 3 to determine the shareholders eligible for the allotment of equity shares in GSPL Transmission Limited. The allotment will be made pursuant to the composite scheme of amalgamation and arrangement involving Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, and Gujarat Gas Limited. This development follows the Effective Date of May 1, 2026, and the listing of 62,27,14,719 equity shares on BSE and NSE effective June 18, 2026.
The Board has established a share exchange ratio of 1 fully paid-up equity share of ₹10 each in GSPL Transmission Limited for every 3 fully paid-up equity shares of ₹2 each held by shareholders in Gujarat Energy Limited. The Equity Shares of the Resulting Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited, subject to the receipt of requisite regulatory approvals.
The composite scheme was executed under the provisions of Sections 230 to 232 of the Companies Act, 2013. As part of the restructuring, a total of 37,28,73,995 equity shares held by Gujarat State Petronet Limited in Gujarat Energy Limited were cancelled due to cross-holding. The shares allotted to eligible shareholders of GSPC and GSPL are currently trading under the symbol GUJGASLTD on the NSE in the EQ series.
Key Details of the Allotment
| Particulars | Details |
|---|---|
| Record Date 3 | July 2, 2026 |
| Share Exchange Ratio | 1:3 (1 share of ₹10 each for every 3 shares of ₹2 each) |
| Total Shares Allotted (Previous) | 62,27,14,719 |
| Face Value (GEL) | ₹2 each |
| Face Value (GTL) | ₹10 each |
| Listing Date (GEL Shares) | June 18, 2026 |
How will the market react to the new listing of GSPL Transmission Limited shares following the completion of the amalgamation?
What impact will the cancellation of cross-holding shares have on the governance structure and shareholding patterns of the resulting entities?
What are the expected synergies and operational efficiencies from this composite scheme for shareholders of Gujarat Energy Limited?
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