Press Release by the Company titled "GSPC Group''s Scheme of Arrangement takes effect."
GUJENERGY · price
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Gujarat Gas Limited (GGL) announced that GSPC Group's mega Scheme of Arrangement became effective on 1st May 2026. Under the scheme, Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet Limited (GSPL) have merged into GGL, while the gas transmission business has been demerged into GTL (GSPL Transmission Limited). GGL will be renamed Gujarat Energy Limited and will house Gas Trading, Exploration & Production, and Wind Power businesses. GTL will be a pure-play gas transmission entity with approximately 2,800 km of pipeline network. Share exchange ratios: GSPC shareholders get 10 GGL shares for every 305 GSPC shares; GSPL shareholders get 10 GGL shares for every 13 GSPL shares; GGL shareholders get 1 GTL share for every 3 GGL shares. Record date for GGL allotment is 12th May 2026. Government of Gujarat will hold approximately 38.80% directly and ~56% including controlled entities in both GGL and GTL.
The merger combines three entities into a strengthened integrated energy company while the demerger creates a focused pure-play gas transmission entity. Both listed entities will see significant changes in business composition and shareholding structure, with GTL soon to be listed on BSE and NSE.