Gujarat Gas Limited, now known as Gujarat Energy Limited, has secured final listing and trading approval for 62,27,14,719 equity shares of ₹2 each allotted to eligible shareholders of Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL). The shares, issued pursuant to a composite scheme of amalgamation and arrangement, were listed and admitted to dealings on both BSE and NSE effective June 18, 2026. This development follows the record date of May 12, 2026, which determined the eligibility of shareholders for the allotment.

The approval from the National Stock Exchange of India Limited (NSE) and BSE Limited was received on June 17, 2026. The listing facilitates the trading of these newly issued shares, which were allotted as part of a broader restructuring involving GSPC, GSPL, GSPC Energy Limited, Gujarat Gas Limited, and GSPL Transmission Limited. The scheme was executed under the provisions of Sections 230 to 232 of the Companies Act, 2013.

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. This adjustment was confirmed in the trading approval communication from the exchange. The remaining shares are now available for trading under the symbol GUJGASLTD on the NSE in the EQ series.

The distinctive numbers for the listed shares range from 688390126 to 1311104844. The company has ensured that all critical price-sensitive information and submissions under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be provided through the NSE Electronic Application Processing System (NEAPS).

Key Details of the Allotment

The composite scheme involved the amalgamation of GSPC, GSPL, and GSPC Energy Limited with Gujarat Gas Limited (now Gujarat Energy Limited), alongside the formation of GSPL Transmission Limited as the resulting company. The restructuring aimed to streamline operations and consolidate the energy-related businesses of the entities involved.

Gujarat Energy Limited reported its financial results for Q4 and FY26 on June 1, 2026, detailing the first consolidated performance following the amalgamation of GSPC, GSPL, and GSPC Energy. The company, formerly known as Gujarat Gas Limited, recorded an EBITDA of ₹943 crores in Q4 FY26, up from ₹790 crores in the corresponding quarter of the previous year. For the full year FY26, EBITDA stood at ₹3,772 crores compared to ₹3,241 crores in the previous year. Profit After Tax (PAT) for the full year was ₹2,299 crores. The Board of Directors has recommended a dividend of ₹8.90 per share, equivalent to 445% of face value, with a total outgo of approximately ₹835 crores.

Scheme of Arrangement Status

The corporate restructuring involving the amalgamation of GSPC, GSPL, and GSPC Energy into Gujarat Gas Limited received final approval from the Ministry of Corporate Affairs on April 17, 2026. The scheme was made effective from May 1, 2026, coinciding with the Gujarat State Foundation Day. Consequently, Gujarat Gas Limited was renamed to Gujarat Energy Limited effective May 14, 2026. The appointed date for the merger was April 1, 2024, while the demerger of the gas transmission business into GSPL Transmission Limited (GTL) was effective from April 1, 2025. The record date for the issuance of shares to shareholders of GSPC and GSPL was May 12, 2026, with allotment completed on May 16, 2026. Listing and trading permissions for the new shares are expected shortly.

Operational Performance

Gujarat Energy described itself as an integrated natural gas company with four major business segments: City Gas Distribution (CGD), gas trading, exploration and production, and wind power generation. The CGD segment achieved its highest-ever CNG volume of 3.6 mmscmd during Q4 FY26, representing a 12% year-on-year growth. The CNG vehicle base reached approximately 17.68 lakh as of March 2026. The company added approximately 43,000 new domestic PNG customers in Q4 FY26, bringing the cumulative base to over 24.18 lakh. In the PNG Industrial segment, sales volume was 4.19 mmscmd in Q4 FY26, with the Morbi ceramic cluster being the largest partner. Volumes in Morbi reached approximately 8 mmscmd by the last week of May 2026.

Gas Trading and Financials

The Gas Trading segment reported earnings before tax of ₹1,334.61 crores in FY26, up from ₹1,222 crores in FY25. Gas trading volume for FY26 stood at 10.2 mmcmd, net of intersegment sales. The company has access to long-term LNG supplies aggregating to approximately 2.96 MTPA and signed new SPAs aggregating to up to 1.36 MTPA during the year. Earnings Per Share (EPS) for FY26 were calculated based on an expanded equity base of 93.82 crore shares. The financials for FY24 and FY25 have been reinstated to reflect the effects of the scheme, though comparatives are not like-for-like due to the demerger of the transmission business.

Segmental EBITDA

The company provided a breakdown of EBITDA for FY26 across its segments. The Gas Trading business contributed approximately ₹1,300 crores, while the CGD segment contributed approximately ₹1,900 crores. The Exploration and Production segment reported an EBITDA of ₹29 crores, and the Renewables segment reported ₹46 crores.