Gujarat Gas Board approves share issuance, name change to Gujarat Energy
Gujarat Gas Ltd (GGL) Board of Directors approved the Composite Scheme of Arrangement sanctioned by the Ministry of Corporate Affairs (MCA). Key approvals include the change of the company's name from "Gujarat Gas Limited" to "Gujarat Energy Limited," effective upon Registrar of Companies approvals. The Board also approved the issuance of 62,27,14,719 new equity shares of INR 2/- each to shareholders of Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL). The share exchange ratio for GSPC shareholders is 10 GGL shares for every 305 GSPC shares, and for GSPL shareholders, it is 10 GGL shares for every 13 GSPL shares. Tuesday, May 12, 2026, has been fixed as the Record Date for determining eligible shareholders.
Key Highlights
- GGL Board approved the Composite Scheme of Arrangement sanctioned by MCA.
- Company name to change from Gujarat Gas Limited to Gujarat Energy Limited.
- 62.27 crore new equity shares to be issued to GSPC and GSPL shareholders.
- Record Date for determining eligible shareholders is May 12, 2026.
- Share exchange ratios fixed for GSPC (10:305) and GSPL (10:13) shareholders.