Gujarat Natural Resources Limited (GNRL) has completed a significant capital raise and made a key addition to its board, as revealed in its latest corporate filing.

Equity Allotment Details

The company has allotted 2.5 crore equity shares at Rs 21.70 per share through the conversion of warrants by non-promoter investors. This move has resulted in a capital infusion of Rs 40.69 crore. The details of the allotment are as follows:

Impact on Share Capital

Following this conversion, GNRL's paid-up equity share capital has increased to Rs 153.40 crore, comprising 15.34 crore equity shares of Rs 10 each.

New Board Appointment

In addition to the equity allotment, GNRL has appointed Harsadsinh Bhurabha Rana as an Additional Independent Director for a term of five years, subject to shareholder approval.

About the New Director

Harsadsinh Bhurabha Rana, aged 62, brings over 25 years of experience in trading, including agro products and construction. Key points about Rana include:

• Educational background: B.Com graduate
• Expertise: Strong management and leadership skills
• Experience: Proven ability in driving business growth and operational efficiency
• Other roles: Holds directorships in other private companies

The company expects Rana's experience and strategic insight to contribute to GNRL's business decisions as an Independent Director.

Regulatory Compliance

These corporate actions were undertaken following shareholder approval at an Extra-Ordinary General Meeting held on March 26, 2025, and receipt of in-principle approval from BSE Limited on May 15, 2025. The board meeting for these decisions commenced at 2:30 PM and concluded at 2:45 PM on November 1, 2025.

Gujarat Natural Resources Limited's move to strengthen its capital base and board composition signals its commitment to growth and corporate governance.

Gujarat Natural Resources Limited (GNRL) and its subsidiary GNRL Oil & Gas Limited (GOGL) have announced a significant development in their ongoing drilling campaign at the Kanawara field. The company has successfully completed and brought into commercial production its third well, K#13, which is expected to substantially increase the field's overall output.

Production Boost

The addition of Well K#13 is anticipated to enhance the Kanawara field's commercial production by 70-100 barrels of oil per day (BOPD). This increase represents a notable step forward in GNRL's efforts to expand its oil production capabilities.

Drilling Progress

Despite facing delays due to an extended monsoon season, GNRL has made steady progress in its drilling operations. The company is currently focused on its fourth well, K#17, which has already reached a depth of 1,000 meters. The target depth for this well is set at 1,700 meters.

Future Outlook

GNRL expects Well K#17 to enter commercial production by the first week of November, further contributing to the company's oil output. This development aligns with GNRL's strategy to enhance its presence in the oil and gas sector.

Operational Summary

The company's Managing Director, Shalin Shah, has assured stakeholders that GNRL will continue to provide updates on this significant initiative, demonstrating the company's commitment to transparency and shareholder communication.

Investors and market watchers will likely keep a close eye on GNRL's progress, particularly as the new wells come online and contribute to the company's overall production figures. The success of this drilling campaign could have implications for GNRL's future growth and market position in the oil and gas sector.