Gujarat State Fertilizers & Chemicals Ltd (GSFC) has received an approval letter from the Government of Gujarat (reference No. PTD/MSM/e-file/22/2022/1346/GH-1 dated 24/06/2026) addressed to its subsidiary Gujarat Port & Logistics Company Limited (GPLCL). The letter was received by GSFC on 25/06/2026.
The approval covers revision in GPLCL's shareholding pattern and composition of its Board of Directors, subject to conditions mentioned in the letter.
Currently, GSFC holds 60% stake in GPLCL (Rs. 1,20,00,000 shares). Pursuant to this approval, GSFC's shareholding will reduce to 11% (Rs. 2,75,00,000 shares).
The proposed revised shareholding pattern for GPLCL is as follows:
- Gujarat State Fertilizers & Chemicals Limited: From 60% to 11%
- Gujarat Maritime Board: From 40% to 52% (Rs. 13,00,00,000 shares)
- Gujarat Industrial Development Corporation: New shareholder with 26% (Rs. 6,50,00,000 shares)
- Gujarat Rail Infrastructure Development Corporation: New shareholder with 11% (Rs. 2,75,00,000 shares)
- Total share capital: Rs. 25,00,00,000
Key transaction details:
- Date of agreement for sale: Yet to be ascertained
- Expected date of completion of sale/disposal: Yet to be ascertained
- Consideration: Not specified in disclosure
- Buyer details: Government entities (Gujarat Maritime Board, Gujarat Industrial Development Corporation, Gujarat Rail Infrastructure Development Corporation)
- Related party transaction: Currently no, but will be informed if applicable at time of transaction
The company will proceed with necessary actions in accordance with the approval letter and will keep stock exchanges informed of any further material developments as they occur.