Gujarat Gas Limited has announced the successful sanctioning of its Composite Scheme of Arrangement. Following the approval, the company will be renamed to Gujarat Energy Limited. Additionally, the Board has finalized the Record Date of May 12, 2026, to facilitate the issuance of over 62.27 crore new equity shares to shareholders of the transferor companies, marking a significant milestone in its corporate reorganization process.
Corporate Rebranding and Restructuring
Following the formal sanctioning of the Composite Scheme of Arrangement, the Board of Directors has initiated a strategic rebranding. The company will transition its identity from Gujarat Gas Limited to Gujarat Energy Limited. This change is subject to the completion of necessary administrative filings and the formal approval of the Registrar of Companies.
Share Issuance and Exchange Ratios
To finalize the arrangement, the company is set to issue an aggregate of 62,27,14,719 new equity shares, each with a face value of INR 2/-. These shares will be distributed to shareholders of the transferor entities based on the following specific exchange ratios:
- GSPC Shareholders: 10 fully paid-up equity shares for every 305 shares held in the transferor company.
- GSPL Shareholders: 10 fully paid-up equity shares for every 13 shares held in the transferor company.
Key Implementation Milestones
The company has established Tuesday, May 12, 2026, as the official Record Date to determine shareholder eligibility for the new share allotment. With the scheme effective date anticipated on or around May 1, 2026, the firm has also completed the adoption of an altered Memorandum and Articles of Association to align with its new corporate structure and name.
Source: BSE
