The Board of Directors approved allotment of 62,27,14,719 Equity Shares to the eligible shareholders of GSPC and GSPL as on record date i.e. 12th May, 2026.
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Gujarat Energy Limited (formerly Gujarat Gas Limited) completed the allotment of 62,27,14,719 equity shares of INR 2 each to eligible shareholders of GSPC (35,02,17,714 shares) and GSPL (27,06,97,005 shares) as on the record date of 12th May, 2026. The allotment was approved by the Board on 16th May, 2026 as part of a Composite Scheme of Amalgamation and Arrangement involving GSPC, GSPL, GSPC Energy, GEL, and GSPL Transmission Limited. Fractional entitlements arising from the share exchange ratio will be consolidated and sold by IDBI Trusteeship Services Limited, with proceeds distributed pro-rata to entitled shareholders. The new shares will rank pari passu with existing equity shares.
This marks the completion of a major corporate restructuring (demerger/amalgamation), resulting in significant dilution or reallocation of shareholding. Existing GGL shareholders should note the change in company's name and potential impact on per-share metrics due to the large share issuance.