Gujarat Energy Board Approves Promoter Reclassification Request

Gujarat Energy Limited's Board of Directors has approved a request from Gujarat State Energy Generation Limited (GSEG), a promoter, to be reclassified from the 'Promoter' category to the 'Public Shareholder' category. This reclassification is in accordance with Regulation 31A of the SEBI Listing Regulations. The decision follows a change in corporate structure where Gujarat Energy Limited became the holding company of GSEG, making GSEG its subsidiary. GSEG confirmed it meets all criteria for reclassification, including not holding more than 10% voting rights or exercising control over Gujarat Energy Limited. The approval is subject to necessary regulatory approvals.