Gujarat Gas Limited Requests Physical Shareholders to Dematerialize Holdings Ahead of Composite Scheme

Gujarat Gas Limited has formally communicated with its physical shareholders, urging them to convert their holdings to dematerialized form ahead of an upcoming composite scheme of amalgamation and arrangement. The communication, dated January 1st, 2026, emphasizes the critical importance of dematerialization to ensure seamless receipt of new shares under the proposed scheme.

Composite Scheme Details

The composite scheme involves multiple entities within the GSPC Group, creating a comprehensive restructuring arrangement. The participating companies and their roles are clearly defined in the scheme structure.

Role in Scheme:	Company Name
Transferor Company 1:	Gujarat State Petroleum Corporation Limited (GSPC)
Transferor Company 2:	Gujarat State Petronet Limited (GSPL)
Transferor Company 3:	GSPC Energy Limited (GEL)
Transferee Company:	Gujarat Gas Limited (GGL)
Resulting Company:	GSPL Transmission Limited (GTL)

The scheme operates under Sections 230-232 and other applicable provisions of the Companies Act, 2013, and will become effective upon sanction by the Ministry of Corporate Affairs (MCA).

Share Exchange Ratio and Issuance Terms

Under the approved scheme, Gujarat Gas shareholders will receive shares of GTL based on a predetermined exchange ratio. The share exchange mechanism has been structured to provide fair value to existing shareholders.

Parameter:	Details
Exchange Ratio:	1 GTL share for every 3 GGL shares
GTL Share Value:	₹10 per fully paid equity share
GGL Share Value:	₹2 per fully paid equity share
Record Date:	Record Date 3 (to be fixed by GTL)
Issuance Format:	Dematerialized form only

Pursuant to SEBI regulations and scheme provisions, GTL will mandatorily issue and allot shares exclusively in dematerialized form, making physical share conversion essential for seamless receipt.

Dematerialization Requirements and Consequences

The company has clearly outlined the implications for shareholders who maintain physical holdings beyond the record date. Physical shareholders face significant procedural complications if they fail to dematerialize their holdings before the designated record date.

Shareholders with physical holdings who do not complete dematerialization will have their new GTL shares transferred to a Demat Suspense Escrow Account opened by GTL. These shares will only be transferred to shareholders upon submission of demat account details and other necessary documents, creating a lengthy and complicated claiming process.

Benefits of Dematerialization

The communication highlights several advantages of holding shares in dematerialized form:

Immediate transfer of securities
Safe and convenient method for holding securities
Elimination of risks associated with physical certificates including bad delivery, fake securities, delays, and theft
Direct receipt of new shares under the scheme without procedural complications

Support Services for Shareholders

Gujarat Gas has appointed Trustwell Management Consulting & Services LLP to assist shareholders with the dematerialization process. Trustwell will provide comprehensive support services to facilitate smooth conversion of physical holdings.

The appointed consultancy will assist shareholders with multiple services including KYC updates, dematerialization of physical shares, obtaining duplicate share certificates, transmission of shares, IEPF claims, and other related matters. This support structure ensures shareholders receive necessary guidance throughout the conversion process.

The company has emphasized the importance of quick response and cooperation from physical shareholders to ensure efficient service delivery and seamless implementation of the composite scheme.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.07%	+7.42%	+6.21%	-11.38%	-15.63%	+11.78%

Gujarat Gas Limited has announced a significant leadership transition with the appointment of a new Managing Director, as communicated to stock exchanges.

Leadership Transition Details

The Government of Gujarat, through its Notification No. AIS/35.2025/56/G, has implemented key administrative changes affecting the company's top management. The notification covers both the transfer of the current Managing Director and the appointment of his successor.

Position	Name	DIN	New Role/Department
Outgoing MD	Shri Milind Torawane, IAS	03632394	Principal Secretary, Education Department
Incoming MD	Smt. Avantika Singh Aulakh, IAS	07549438	Managing Director, Gujarat Gas Limited

Administrative Process

Shri Milind Torawane, IAS, has been transferred from his position as Managing Director of Gujarat Gas Limited to serve as Principal Secretary to Government, Education Department, specifically overseeing Primary and Secondary Education. This transfer is effective until further orders from the government.

Smt. Avantika Singh Aulakh, IAS, has been appointed as the new Managing Director of Gujarat Gas Limited, taking over the responsibilities from Shri Torawane. Her appointment represents continuity in the company's administrative leadership structure.

Regulatory Compliance

The company has filed this intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with mandatory disclosure requirements. Gujarat Gas Limited has indicated that:

Necessary formalities related to the appointment will be completed in due course
Updates regarding the appointment process will be provided after obtaining approval from the competent authority
All procedural requirements will be fulfilled as per regulatory guidelines

Company Background

Gujarat Gas Limited operates as a GSPC Group Company and is a Government of Gujarat Undertaking. The company is engaged in gas distribution services and maintains its corporate office in Gandhinagar, Gujarat. The leadership change reflects the government's administrative restructuring while ensuring continued operational oversight of the gas distribution entity.