Composite Scheme Background

The disclosure references the Composite Scheme of Amalgamation and Arrangement among Gujarat State Petroleum Corporation Limited (GSPC/Transferor Company 1), Gujarat State Petronet Limited (GSPL/Transferor Company 2), GSPC Energy Limited (GSPC Energy/Transferor Company 3), Gujarat Energy Limited (GEL/Transferee Company/Demerged Company/Company), and GSPL Transmission Limited (GTL/Resulting Company). The scheme was sanctioned by the Ministry of Corporate Affairs, New Delhi vide Order dated April 8, 2026, received on April 17, 2026.

Scheme Implementation Timeline

The scheme became effective on May 1, 2026. A total of 62,27,14,719 (Sixty Two Crores Twenty Seven Lacs Fourteen Thousand Seven Hundred and Nineteen) Equity Shares of ₹2 each were allotted on May 16, 2026 to shareholders of GSPC (35,20,17,714 shares) and GSPL (27,06,97,005 shares) as of the Record Date of May 12, 2026.

Share Exchange Ratios

  • GSPC Share Exchange Ratio: 10 fully paid Equity Shares of ₹2 each of Gujarat Energy Limited for every 305 fully paid Equity Shares of ₹1 each held in GSPC
  • GSPL Share Exchange Ratio: 10 fully paid-up Equity Shares of ₹2 each of Gujarat Energy Limited for every 13 fully paid Equity Shares of ₹10 each held in GSPL

Fractional Share Treatment

IDBI Trusteeship Services Limited was appointed as Independent Trustee to handle fractional entitlements. The Trustee consolidated and aggregated fractional shares, allotted corresponding whole shares to itself, and held them in trust for eligible shareholders.

Sale and Distribution Process

The Trustee executed the sale of consolidated fractional shares on July 20, 2026 at prevailing market prices. Net sale proceeds (after deducting expenses/charges) were transferred to the company for distribution. The company completed distribution of sale proceeds to eligible shareholders on August 7, 2026, in proportion to their fractional entitlements, after deducting applicable TDS.

Shareholder Communication Details

The disclosure includes an email communication template sent to shareholders containing:

  • Folio/DP ID & Client ID details
  • Bank account information
  • Gross amount credited
  • TDS percentage and amount deducted
  • Net amount credited
  • Electronic credit reference number/advice number
  • Date of credit
  • Mode of payment

Tax Treatment

Payment of fractional entitlement is subject to deduction of tax at source (TDS) at applicable rates as per Income Tax Act, 2025. TDS certificates will be issued as per statutory timelines.