Gujarat Gas Limited has announced a pivotal corporate transition following the receipt of an order from the Ministry of Corporate Affairs. The company is set to undergo a name change to Gujarat Energy Limited and has approved the issuance of over 62.27 crore equity shares to shareholders of GSPC and GSPL. This strategic move aligns with the sanctioned Composite Scheme of Arrangement, with a designated record date of May 12, 2026 for shareholder eligibility.
Strategic Name Change and Corporate Restructuring
Following the formal sanction of its Composite Scheme of Arrangement, the Board of Directors has initiated a rebranding process. The company will officially transition its name to Gujarat Energy Limited. This change will take effect once all mandatory filings and approvals from the Registrar of Companies are processed, marking a new chapter in the company’s corporate identity.
Share Issuance and Exchange Ratios
To implement the scheme, the company will issue an aggregate of 62,27,14,719 new equity shares, each with a face value of INR 2. The distribution is structured to benefit existing stakeholders of the transferor companies as follows:
- GSPC Shareholders: 10 fully paid equity shares of the company for every 305 shares held in GSPC.
- GSPL Shareholders: 10 fully paid equity shares of the company for every 13 shares held in GSPL.
This issuance involves 35,20,17,714 shares allocated to GSPC shareholders and 27,06,97,005 shares allocated to GSPL shareholders.
Important Dates and Effective Timeline
The company has finalized Tuesday, May 12, 2026, as the official Record Date for determining shareholder eligibility for this allotment. With the necessary regulatory orders now in hand, the Effective Date of the scheme is anticipated to occur on or around Friday, May 1, 2026, upon the filing of the requisite e-Form with the Registrar of Companies.
Source: BSE
