GSPL informs the exchange regarding submission of revised Composite Scheme of Amalgamation and Arrangement pursuant to the directions issued by Hon''ble MCA.
Awaiting price reaction for this filing.
Gujarat State Petronet Ltd (GSPL) has informed the stock exchanges that it has submitted a revised version of the Composite Scheme of Amalgamation and Arrangement to the Ministry of Corporate Affairs (MCA). The revisions were made to Clauses 60 and 63 of the Scheme, specifically to address the Regional Director's observations on the re-allocation of authorized share capital from Gujarat Gas Limited (GGL) to GSPL Transmission Limited (GTL) upon demerger. The company has clarified that these revisions are purely technical in nature and do not affect the scheme as approved by shareholders, nor do they impact the rights or entitlements of any shareholders. The broader scheme involves amalgamation of GSPC, GSPL, and GSPC Energy Ltd into GGL, followed by demerger of GGL's gas transmission business into GTL, with amalgamation appointed date of April 1, 2024 and demerger appointed date of April 1, 2025.
This is a procedural update with no material impact on shareholders—the scheme's economic terms and shareholder entitlements remain unchanged. The revision clears a regulatory hurdle (MCA observations on share capital reallocation) and keeps the consolidation and demerger process on track. Investors should monitor for NCLT/MCA approval timelines and the eventual share entitlement ratios between the listed entities GSPL and GGL.