Gujarat State Petronet Limited (GSPL) has announced a significant change in its top leadership. Shri Pankaj Joshi, IAS (DIN: 01532892) has resigned from his position as Chairman and Managing Director (CMD) of the company, effective October 31, 2025. This move comes as part of a broader reshuffle affecting multiple state-owned enterprises in Gujarat.

Resignation Details

The resignation of Shri Pankaj Joshi is directly linked to his superannuation as Chief Secretary to the Government of Gujarat, as per the General Administration Department (GAD) Notification No. AIS/35.2025/51/G dated October 28, 2025. Gujarat State Petronet received the official resignation letter on November 1, 2025, as disclosed in their filing to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Widespread Impact on Gujarat's State Enterprises

Joshi's departure extends beyond Gujarat State Petronet, affecting several other prominent state-owned companies. His resignation letter, addressed to the Chief Minister of Gujarat, outlines his simultaneous exit from multiple leadership roles:

Implications and Next Steps

This simultaneous resignation from multiple key positions in Gujarat's energy and fertilizer sectors signals a significant shift in the state's corporate governance landscape. The move may lead to a series of new appointments across these vital state enterprises.

Gujarat State Petronet has not yet announced a successor for the CMD position. As per standard corporate governance practices, the board of directors is expected to initiate the process of identifying and appointing a new CMD to ensure smooth continuity of operations.

Investors and stakeholders will be keenly watching how this change in leadership might affect the strategic direction and operational efficiency of Gujarat State Petronet and the other affected companies in the coming months.

Gujarat State Petronet Limited (GSPL) held a meeting of equity shareholders on October 17, 2025, to consider and approve a composite scheme of amalgamation and arrangement involving five companies. The meeting, conducted through video conferencing, was in compliance with an order from the Ministry of Corporate Affairs dated September 10, 2025.

Key Details of the Meeting

• Date and Time: October 17, 2025, from 4:00 PM to 4:45 PM
• Mode: Video Conferencing / Other Audio Visual Means (VC/OAVM)
• Chairman: Shri Pankaj Joshi, IAS (Chairman and Managing Director of GSPL)
• Scrutinizer: M/s K K Patel & Associates, Practicing Company Secretaries

Companies Involved in the Amalgamation Scheme

Resolution Details

The shareholders voted on a resolution to approve the Composite Scheme of Amalgamation and Arrangement under Sections 230 to 232 of the Companies Act, 2013. The resolution sought approval for the scheme, subject to various regulatory approvals, including that of the Ministry of Corporate Affairs.

Additional Appointment

In a separate development, GSPL's Board of Directors approved the appointment of Shri Jayant Misra, IRS (Retd.) as an Independent Director, effective October 22, 2025, for a term of 5 years, subject to shareholder approval.

This corporate action represents a significant restructuring within the Gujarat state energy sector, potentially impacting the operations and structure of multiple key players in the industry.