Gujarat Gas Limited to Rebrand as Gujarat Energy Limited Post Integration

Gujarat Gas Limited will issue approximately 62.27 crore new equity shares to GSPC and GSPL shareholders as part of the approved Composite Scheme of Arrangement. Shareholders will receive 35,20,17,714 shares for GSPC and 27,06,97,005 for GSPL based on agreed swap ratios.

Scheme Approval and Name Change

Gujarat Gas Limited (GGL) has announced its upcoming name change to Gujarat Energy Limited, following the Ministry of Corporate Affairs' (MCA) approval of a Composite Scheme of Arrangement. This restructuring integrates Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL) into the company.

The company will issue approximately 62.27 crore equity shares of INR 2/- each to eligible shareholders of GSPC and GSPL. A record date of May 12, 2026, has been set to determine these shareholders.

The scheme is expected to become effective around May 1, 2026, pending successful filing of necessary documents with the Registrar of Companies (RoC), Ahmedabad. The MCA had issued its sanction order on April 17, 2026.

Creating an Integrated Energy Giant

This rebranding and integration aim to create a unified, larger entity in India's energy sector. Consolidating operations from GSPC, GSPL, and the company itself, Gujarat Energy Limited expects to benefit from streamlined governance, better operational efficiency, and cost synergies.

The move aims to simplify the group's corporate structure, eliminate cross-holdings, and enhance shareholder value. The expanded scale should strengthen its market presence and competitiveness.

Background of the Integration

The Composite Scheme of Arrangement is the culmination of a strategic effort to consolidate Gujarat's key energy assets. Gujarat Gas Limited, a major city gas distribution (CGD) player, will now serve as the core entity for the integrated gas businesses of the GSPC group. GSPC itself is a state-owned conglomerate with diverse interests in oil and gas exploration, production, trading, and distribution.

Gujarat State Petronet Limited (GSPL) plays a crucial role in gas transmission, operating an extensive pipeline network in Gujarat. The scheme, which received shareholder approvals in October 2025, aims to merge these entities into GGL, which will subsequently be renamed Gujarat Energy Limited.

Key Changes for Operations and Shareholders

• New Identity: Gujarat Gas Limited will officially be known as Gujarat Energy Limited, reflecting its broader integrated energy focus.
• Shareholder Allotment: Eligible GSPC and GSPL shareholders will receive new equity shares in the enlarged entity based on the approved swap ratios.
• Consolidated Operations: The integration of GSPC, GSPL, and the company is expected to create a more robust and efficient energy business.
• Streamlined Structure: The corporate architecture will be simplified, potentially leading to better management and strategic decision-making.

Completion Risks

The successful completion of the scheme hinges on the timely filing of e-Form INC-28 with the RoC, Ahmedabad, which is crucial for the scheme's effective date to be realized around May 1, 2026. Any delays in these regulatory filings could postpone the integration and name change.

Furthermore, the official effectiveness of the name change to Gujarat Energy Limited is contingent upon final approvals and filings with the Registrar of Companies. Shareholders will be closely watching the procedural completion of these steps.

Competitive Landscape

Gujarat Energy Limited will operate in a competitive landscape alongside established CGD players such as Indraprastha Gas Limited (IGL), Mahanagar Gas Limited (MGL), and Adani Total Gas Ltd. The consolidation aims to create an entity with enhanced scale and integrated operations, potentially positioning it more strongly against peers through improved operational efficiencies and synergies.

Key Figures and Dates

• The scheme involves the issuance of approximately 62.27 crore equity shares of INR 2/- each.
• The record date for determining eligible shareholders for this share issuance is May 12, 2026.

Next Steps

• Monitor the timely filing of e-Form INC-28 with the RoC to confirm the scheme's effective date.
• Await official confirmation of the company's name change to Gujarat Energy Limited post regulatory approvals.
• Observe the completion of the share issuance process to GSPC and GSPL shareholders following the scheme's effective date.
• Track any subsequent management commentary on the integration progress and expected synergies.