Gujarat State Petronet Ltd. has officially announced the Record Date for its Composite Scheme of Arrangement. Following the sanction from the Ministry of Corporate Affairs, the company has set Tuesday, May 12, 2026, as the official Record Date. Shareholders will be issued 27,06,97,005 equity shares of Gujarat Gas Limited (GGL) based on the defined exchange ratio. Trading in GSPL securities will be suspended following this date.
Scheme of Arrangement Details
Following the successful receipt of approval from the Ministry of Corporate Affairs, the board has finalized the implementation process for its corporate restructuring. The scheme involves a complex arrangement between the company, its transferor entities, and Gujarat Gas Limited (GGL), serving as the transferee company.
Share Exchange Ratio and Allotment
The company has established a specific share exchange ratio for its shareholders. Investors will receive 10 fully paid-up equity shares of GGL (valued at INR 2 each) for every 13 fully paid-up equity shares held in the company. In total, 27,06,97,005 equity shares of GGL will be allotted under this arrangement.
Investor Impact and Timeline
The Record Date for determining eligible shareholders for this allotment is May 12, 2026. Investors should be aware that the company’s securities will cease trading on the stock exchanges effective from this date. Furthermore, the Effective Date of the scheme, coinciding with the filing of necessary documentation, is anticipated to occur on or around Friday, May 1, 2026.
Source: BSE
