Gujarat Energy Limited has officially approved the allotment of 62,27,14,719 equity shares as part of its composite scheme of amalgamation and arrangement. Shares were issued to shareholders of GSPC and GSPL based on their holdings as of the May 12, 2026 record date. The newly issued equity shares will rank pari passu with existing shares, marking a significant milestone in the organizational consolidation process.
Share Allotment Details
On May 16, 2026, the Board of Directors of Gujarat Energy Limited finalized the issuance of 62,27,14,719 equity shares, each with a face value of INR 2/-. This allocation was distributed to eligible shareholders of the Transferor Companies, specifically 35,20,17,714 shares to GSPC shareholders and 27,06,97,005 shares to GSPL shareholders, based on the prescribed share exchange ratio.
Handling of Fractional Entitlements
To ensure procedural compliance, any fractional entitlements resulting from the share exchange ratio have been consolidated. These fractional shares will be allotted in dematerialized form to IDBI Trusteeship Services Limited. The trustee is tasked with disposing of these shares on the stock exchange at prevailing market rates and distributing the net proceeds on a pro-rata basis to the entitled shareholders.
Next Steps for Shareholders
The company is currently initiating the necessary applications with Depositories and Stock Exchanges to facilitate the credit of these shares into the demat accounts of the respective shareholders. Following this, the company will pursue the formal listing of these newly issued shares on the stock exchanges, ensuring liquidity and accessibility for all investors involved in the scheme.
Source: BSE
