Gujarat Gas Limited has informed the Exchange regarding Outcome of Board Meeting held on April 29, 2026.
GUJGASLTD · price
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Gujarat Gas Limited's Board of Directors met on April 29, 2026, and noted the Ministry of Corporate Affairs (MCA) order dated April 8, 2026, sanctioning a Composite Scheme of Arrangement involving GSPC, GSPL, GEL, GGL, and GTL. The company will change its name from Gujarat Gas Limited to Gujarat Energy Limited. Under the scheme, GGL will issue approximately 622.7 million equity shares of INR 2 each to GSPC shareholders (352 million shares) and GSPL shareholders (270.7 million shares) based on share exchange ratios of 10:305 and 10:13 respectively. The record date for determining eligible shareholders is fixed as May 12, 2026, and the scheme is expected to become effective around May 1, 2026.
This is a significant corporate restructuring that will expand GGL's shareholder base through issuance of new shares. Existing GGL shareholders will see dilution as approximately 622.7 million new shares are issued to GSPC and GSPL shareholders. The name change to Gujarat Energy Limited reflects the broader business scope after the merger.