Gujarat Energy Ltd: Promoter Seeks Reclassification to Public

Gujarat Energy Ltd has received a request from its promoter, Gujarat State Energy Generation Limited (GSEG), to reclassify its shareholding from 'Promoter' to 'Public Shareholder' category. GSEG currently holds 13,32,235 shares, representing 0.14% of the company's equity. The reclassification is sought to simplify the corporate structure, as GSEG has become a subsidiary of Gujarat Energy Ltd (GEL) following a scheme of arrangement. GSEG asserts it does not exercise control or have special rights in GEL and is not represented on its board. The request is subject to approval from the Board of Directors and stock exchanges.