Gujarat Energy Limited has officially certified the compensation provided to eligible shareholders for fractional entitlements arising from its Composite Scheme of Amalgamation and Arrangement. This confirmation, supported by reports from the Audit Committee and Independent Directors, signifies the successful closure of a key post-amalgamation process as per regulatory guidelines and the sanctioned scheme.
Shareholder Compensation Confirmed Post-Amalgamation
Gujarat Energy Limited (formerly Gujarat Gas Limited) has submitted reports confirming the compensation of shareholders who were eligible for fractional entitlements. This compensation is a direct outcome of the Composite Scheme of Amalgamation and Arrangement involving Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Gas Limited (now Gujarat Energy Limited), and GSPL Transmission Limited.
Reports from Key Committees
The company’s Audit Committee and Independent Directors have both issued certifications verifying that the compensation process has been completed. These certifications are in accordance with the provisions of the SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 and the specific clauses (12.5 and 28.4) of the sanctioned Composite Scheme.
Details of Fractional Share Allotment and Treatment
The Scheme, effective from 1st May, 2026, led to the allotment of 62,27,14,719 Equity Shares of INR 2/- each on 16th May, 2026, to shareholders of GSPC and GSPL. While determining these allotments, certain shareholders became entitled to fractional entitlements. Instead of issuing these fractions, all fractional shares were consolidated and aggregated into 98,334 Equity Shares, which were then allotted to IDBI Trusteeship Services Limited, the appointed Independent Trustee. The Trustee subsequently sold these consolidated fractional shares on 20th July, 2026, for ₹26,669,508.31. The net proceeds, after deducting expenses, were distributed to eligible shareholders on 7th August, 2026, in proportion to their fractional entitlements.
Source: BSE
