Gujarat State Petronet Limited's composite scheme of arrangement has officially become effective on May 1, 2026, following the completion of regulatory filing requirements. GSPL Transmission Limited has confirmed that all companies involved in the scheme have filed the certified copy of the Ministry of Corporate Affairs order along with the composite scheme in e-Form INC-28 with the Registrar of Companies, Ahmedabad.

Official Regulatory Communication

The effectiveness was formally communicated through GSPL Transmission Limited's official letter GTL/SEC/2026/1 dated May 1, 2026, addressed to both BSE Limited and National Stock Exchange of India Limited. The communication, digitally signed by Rajeshwari Sharma as authorized signatory, confirmed the filing of certified copies of the MCA order along with the composite scheme documentation.

Scheme Implementation and Effective Date

The effective date was confirmed as May 1, 2026, marking the date of filing e-Form INC-28 with the ROC Ahmedabad. As per Clause 1.14 read with Clause 70 of the scheme, this filing date establishes the official commencement of the corporate restructuring arrangement.

Corporate Restructuring Details

Under the implemented scheme, the transferor companies including Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, and GSPC Energy Limited have been dissolved without winding up and amalgamated with Gujarat Gas Limited. Additionally, the Gas Transmission Business Undertaking has been demerged into GSPL Transmission Limited as the resulting company.

Share Exchange and Record Date

The previously announced record date of May 12, 2026 remains in effect for determining eligible shareholders. Under the approved arrangement, GSPL shareholders will receive 10 fully paid-up equity shares of ₹2 each of Gujarat Gas Limited for every 13 equity shares of ₹10 each held in Gujarat State Petronet Limited.

Trading Implications

GSPL securities will cease trading on both BSE Limited and National Stock Exchange of India Limited from the record date. Only shareholders whose names appear in the register of members as on May 12, 2026 will be eligible for the equity share allotment of Gujarat Gas Limited. The regulatory filing was completed by Rajeshwari Sharma as the authorized signatory for GSPL Transmission Limited.

Gujarat State Petronet Limited has received a rectification order from the Income Tax Department that reduces its assessed income for Assessment Year 2024-25 by Rs.248 crores. The company informed stock exchanges about this development on April 10, 2026, in compliance with SEBI listing regulations.

Rectification Order Details

The Assistant Commissioner of Income Tax, Gandhinagar Circle, issued the rectification order under Section 154 of the Income Tax Act, 1961, dated April 9, 2026. This order rectifies the company's earlier tax assessment for Assessment Year 2024-25 (Financial Year 2023-24).

Assessment Income Revision

The rectification order significantly reduces the company's assessed income in the tax computation. The revision shows a substantial decrease from the originally assessed amount.

Financial Impact Assessment

Gujarat State Petronet has clarified that despite the substantial revision in assessed income, the financial impact on the company will be nil. The company has not identified any violations or contraventions in connection with this rectification order.

Regulatory Compliance

This disclosure follows the company's earlier intimation dated March 23, 2026, regarding the receipt of an income tax order under Section 143(3) read with Section 144B of the Income Tax Act, 1961, for the same assessment year. The company has fulfilled its obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by promptly informing both BSE and NSE about the rectification order.