Corporate Action27 Aug 2026, 08:10 pm
Gujarat Energy Distributes Fractional Entitlement Sale Proceeds
AI Summary
Gujarat Energy Ltd has completed the distribution of sale proceeds from fractional entitlements arising from a composite scheme of arrangement. The proceeds, generated from the sale of consolidated fractional shares by an independent trustee, have been credited to eligible shareholders of erstwhile Gujarat State Petroleum Corporation Limited and Gujarat State Petronet Limited. The distribution process involved deducting applicable taxes and expenses, with shareholders advised to verify their bank credits.
Key Highlights
- Distribution of sale proceeds from fractional entitlements completed.
- Proceeds relate to a composite scheme of arrangement involving GSPC and GSPL.
- Fractional shares were consolidated, sold by an independent trustee.
- Net proceeds distributed after deducting expenses and TDS.
- Shareholders advised to verify bank credits and contact RTA for discrepancies.
Price Impact
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