Gujarat State Petronet Limited has informed the Exchange about submission of revised Composite Scheme of Amalgamation and Arrangement pursuant to directions issued by Hon'ble Ministry of Corporate Affairs (MCA).
Awaiting price reaction for this filing.
Gujarat State Petronet Limited has submitted a revised Composite Scheme of Amalgamation and Arrangement to the Exchange, following directions from the Ministry of Corporate Affairs (MCA). The company had originally proposed a composite scheme combining amalgamation and arrangement of certain entities, and the MCA has asked for changes before it proceeds further. This revised filing is part of the regulatory approval process. No specific details about share swap ratios, entities involved, or the nature of the changes have been disclosed in this filing. The scheme will likely be next moved to the NCLT for approval once MCA directions are complied with.
Shareholders should watch for the next announcement containing the revised scheme details, share exchange ratio, and the names of merging/arranged entities, as this could materially affect shareholding structure and stock price.