GSPL Transmission Ltd saw its shareholding pattern shift as ICICI Prudential Mutual Fund crossed the 5% threshold. The fund’s holding rose to 5.75% of the paid-up capital following the allotment of shares pursuant to a Scheme of Arrangement.

The acquisition occurred through a demerger where shareholders of Gujarat Energy Ltd (GEL), formerly Gujarat Gas Ltd, were issued shares of GSPL Transmission Ltd (GTL). The allotment credit was received on July 17, 2026. ICICI Prudential Asset Management Company Limited, acting as the investment manager, filed the disclosure with BSE Limited under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Shareholding Details

The fund holds 1,79,69,586 equity shares carrying voting rights. This position represents 5.75% of GTL’s total diluted share capital. The company noted that these holdings are maintained from an investment perspective and do not seek controlling interest.

Capital Structure Context

Post-demerger, the paid-up share capital of GSPL Transmission Ltd stands at ₹3,12,74,36,170, comprising 31,27,43,617 shares with a face value of ₹10 each. The shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. Prior to this specific acquisition event triggered by the demerger, the fund held no shares in the target company.

What the Numbers Show

The crossing of the 5% threshold is purely structural, resulting from the corporate action rather than open market purchases. The fund’s entry into GSPL Transmission is directly linked to its existing exposure to Gujarat Energy Ltd, indicating a passive adjustment in portfolio weightings due to the spin-off. The absence of prior holdings confirms that the entire 5.75% stake was created simultaneously with the listing process.

GSPL Transmission Limited held its 2nd Annual General Meeting on September 29, 2026, where shareholders passed all 10 resolutions through remote e-voting and e-voting during the meeting, with total voter participation of 308,246 shareholders on record as of September 22, 2026.

Meeting overview

The AGM was conducted via Video Conferencing and Other Audio Visual Means, commencing at 4:00 pm and concluding at 4:58 pm. A total of 100 shareholders attended through video conferencing, comprising 1 from the promoter and promoter group and 99 from the public. The remote e-voting window was open from September 25, 2026 at 9:00 am to September 28, 2026 at 5:00 pm. Kiran Kumar Patel of M/s K. K. Patel & Associates (FCS: 6384, CP: 6352) served as the scrutinizer, appointed by the Board on September 1, 2026, and issued the consolidated scrutinizer's report on September 29, 2026.

Resolutions passed

All 10 resolutions — comprising 5 ordinary business items and 5 special business items — were passed with requisite majority. The table below summarises each resolution and its outcome.

Voting participation and results

The following table presents the aggregate voting data across all shareholder categories for key resolutions.

Promoter and institutional participation

The promoter and promoter group, holding 121793309 shares, cast 100% of their votes in favour across all 10 resolutions entirely through e-voting. Public institutional shareholders, holding 56708270 shares, recorded an aggregate participation of 83.8109% of their holdings for resolutions 1 through 6, with all institutional votes cast in favour. Public non-institutional shareholders, holding 134242038 shares, participated at approximately 40.67% for resolutions 1 through 6 and approximately 38.90% for resolutions 7 through 10, with near-unanimous support across all items.

Scrutinizer's findings

Kiran Kumar Patel confirmed in the consolidated scrutinizer's report that all ordinary and special business contained in the 2nd AGM notice were passed with requisite majority. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL). Shareholders holding shares as on the cut-off date of September 22, 2026 were eligible to vote. The report was submitted on September 29, 2026 from Gandhinagar.