Shares of GSPL and Gujarat Gas will be in focus in trade on September 2, Monday after the company on Friday, August 30 announced the amalgamation scheme. Shares of Gujarat Gas ended at Rs 606.15 on the NSE on Friday, August 30, while GSPL shares ended 5.5% higher at Rs 442.35 on Friday.
Following the merger, the Gas Transmission Business of GGL will be demerged into GSPL Transmission Limited (GTL). The restructuring aims to enhance business synergies, unlock shareholder value, and comply with regulatory requirements. The Scheme awaits approvals from regulatory bodies, including SEBI and the Ministry of Corporate Affairs.
Under the scheme, shareholders of GSPC will receive 10 equity shares of ₹2 each in Gujarat Gas Limited (GGL) for every 305 equity shares of ₹1 each they hold. For GSPL shareholders, 10 equity shares of ₹2 each in GGL will be issued for every 13 equity shares of ₹10 each they hold. Additionally, for the new transmission entity, GSPL Transmission Limited (GTL), GGL shareholders will receive 1 equity share of ₹10 each in GTL for every 3 equity shares of ₹2 each held in GGL.
The Scheme also involves a significant change in the shareholding patterns of GGL and GTL, post-restructuring. Public shareholding in GGL is expected to increase from 39.11% to 74.14%, while the promoter’s stake will reduce to 25.86%. Similarly, GTL will see its public shareholding rise to 74.14%, with the Gujarat government and Gujarat State Energy Generation Limited as its new promoters.
This restructuring is expected to simplify GSPL’s corporate structure, improve operational efficiency, and enhance growth prospects.
