Gujarat Energy Limited has announced the distribution of sale proceeds to eligible shareholders stemming from a composite scheme of amalgamation and arrangement. The proceeds are attributable to fractional entitlements arising from the scheme, which involved several entities including GSPC and GSPL. This distribution, after deducting applicable TDS, was completed on August 7, 2026.
Distribution of Fractional Entitlements
Gujarat Energy Limited has completed the distribution of sale proceeds to its eligible shareholders. This distribution is a direct result of the composite scheme of amalgamation and arrangement among Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Gas Limited (now Gujarat Energy Limited), and GSPL Transmission Limited. The proceeds are specifically for fractional entitlements arising from this arrangement, as sanctioned by the Ministry of Corporate Affairs.
Scheme Background and Proceeds Distribution
The composite scheme, which became effective following an order dated April 8, 2026, involved the amalgamation and arrangement of several key entities within the Gujarat energy sector. Eligible shareholders who held equity in the erstwhile Gujarat State Petroleum Corporation Limited and Gujarat State Petronet Limited, with registered email IDs, have been duly informed via email about the distribution of sale proceeds. The company confirmed that the distribution of these proceeds, after deducting applicable Tax Deducted at Source (TDS), was finalized on August 7, 2026.
Shareholder Information
Shareholders are advised to verify the credited fractional entitlements against their bank statements. The company has provided details regarding the credited amount, TDS, and net credit, along with reference numbers and dates. For any discrepancies or further clarification, shareholders are directed to contact the Registrar and Share Transfer Agent, KFin Technologies Limited. The distribution process aligns with the provisions of the Income Tax Act, 2025, concerning the deduction of tax at source.
Source: BSE
