The Board of Directors of Gujarat State Petronet Limited (GSPL) has approved additional investments in its Joint Venture Company, GSPL India Gasnet Limited (GIGL). This includes subscribing to GIGL’s rights issue of redeemable cumulative preference shares amounting to ₹35.77 Cr and an additional equity contribution of up to ₹7.80 Cr. GSPL will maintain its 52% shareholding in GIGL post-investment.
GSPL Boosts Investment in Gasnet
Gujarat State Petronet Limited (GSPL) is reinforcing its commitment to GSPL India Gasnet Limited (GIGL) through a fresh round of investments. A board meeting held on November 11, 2025, greenlit the financial infusion aimed at bolstering GIGL’s ongoing projects.
Details of the Investment
The approved investments are divided into two key components:
- Subscription to GIGL’s Right issue of Redeemable Cumulative Preference Shares: ₹35.77 Cr.
- Additional Equity Contribution: Up to ₹7.80 Cr, bringing the cumulative equity contribution to ₹1339.84 Crore.
Despite these investments, GSPL will continue to hold a 52% stake in GIGL, ensuring no change in the percentage of shareholding.
About GSPL India Gasnet (GIGL)
GIGL operates as a subsidiary of GSPL. Other joint venture partners include Indian Oil Corporation Limited (26%), Bharat Petroleum Corporation Limited (11%), and Hindustan Petroleum Corporation Limited (11%). GIGL focuses on the execution and implementation of cross-country natural gas transmission pipeline projects, including the Mehsana Bhatinda Pipeline Project and the Bhatinda Gurdaspur Pipeline Project.
Preference Share Details
The tenure of the Preference share shall be 5 years.
Equity Share Details
GSPL will acquire 7,80,00,000 Equity Shares of face value of Rs. 10 each at par on rights basis.
Turnover of GIGL (Last 3 Years)
The turnover for the last three financial years is as follows:
- 2022-2023: ₹21280.11 Lacs
- 2023-2024: ₹36551.09 Lacs
- 2024-2025: ₹23967.14 Lacs
Source: BSE
