Following the successful sanction of the Composite Scheme of Arrangement, Gujarat Gas Limited has announced a formal name change to Gujarat Energy Limited. The company will issue 62,27,14,719 new equity shares to shareholders of GSPC and GSPL. The record date for determining eligible shareholders for this allotment is set for Tuesday, 12th May, 2026, as the firm transitions into its new corporate structure.
Corporate Name Change
Following the formal approval of the Composite Scheme of Arrangement by the Ministry of Corporate Affairs, the company is set to undergo a rebranding. The board has approved the change of the company’s name from Gujarat Gas Limited to Gujarat Energy Limited. This change will take effect once all mandatory filings and approvals are processed by the Registrar of Companies in Ahmedabad.
Share Allotment Details
To implement the terms of the scheme, the company will issue an aggregate of 62,27,14,719 equity shares of INR 2/- each. This issuance is divided into 35,20,17,714 shares for GSPC shareholders and 27,06,97,005 shares for GSPL shareholders. The exchange ratios are set at 10 shares of the company for every 305 shares held in GSPC, and 10 shares for every 13 shares held in GSPL.
Key Dates and Implementation
The record date for determining the eligibility of shareholders for the share allotment is Tuesday, 12th May, 2026. The company anticipates that the Effective Date of the scheme, triggered by the filing of necessary documents with the RoC, will occur on or around Friday, 1st May, 2026. Furthermore, the board has adopted an altered Memorandum and Articles of Association to align with these structural changes.
Source: BSE
