MCA approves Composite Scheme of Arrangement for GSPL, GSPC and Gujarat Gas
Awaiting price reaction for this filing.
GSPL has received the final order from the Ministry of Corporate Affairs (MCA) dated April 8, 2026, sanctioning the Composite Scheme of Arrangement. The scheme involves (1) amalgamation of GSPC, GSPL and GSPC Energy into Gujarat Gas Ltd (GGL), and (2) demerger of the gas transmission business from GGL into a new entity, GSPL Transmission Ltd. Key ratios: GSPL shareholders to receive 10 GGL shares for every 13 GSPL shares held; GGL shareholders to get 1 GSPL Transmission share for every 3 GGL shares held. Equity shareholders approved the scheme with over 75% majority in October 2025.
GSPL shareholders will receive GGL shares as swap; transmission business will move to a new listed entity GSPL Transmission. Share prices may react to swap ratios.