Asian Paints
2444.5 -2.80
Cipla
1309.6 -8.00
Eicher Motors
7109 -80.50
Nestle India
1458.6 -7.00
Grasim Inds
2794.5 -8.70
Hindalco Inds.
1038 -29.20
Hind. Unilever
2250.9 -63.50
ITC
314.9 -1.35
Trent
4144.6 -83.70
Larsen & Toubro
4014 -82.10
M & M
3097.5 -54.80
Reliance Industries
1430.8 5.40
Tata Consumer
1144.6 -23.40
Tata Motors PVeh
341.55 -11.15
Tata Steel
211.36 -4.52
Wipro
200.65 -0.03
Apollo Hospitals
7636.5 -72.50
Dr Reddy's Labs
1322.9 -6.90
Titan Company
4385.2 -54.60
SBI
1068.45 -18.45
Shriram Finance
937.35 -19.50
Bharat Electron
431.3 -6.25
Kotak Mah. Bank
383.3 1.30
Infosys
1181.8 14.30
Bajaj Finance
937 7.00
Adani Enterp.
2408.4 -17.50
Sun Pharma.Inds.
1808.3 29.60
JSW Steel
1264.5 -15.20
HDFC Bank
771.7 -7.30
TCS
2473.9 -0.80
ICICI Bank
1263.4 -17.60
Power Grid Corpn
318.35 -2.00
Maruti Suzuki
13314 57.00
Axis Bank
1268.3 -28.10
HCL Technologies
1199.1 -1.10
O N G C
299.55 -1.85
NTPC
399.15 -2.15
Coal India
481.45 1.55
Bharti Airtel
1886.8 -1.30
Tech Mahindra
1473.5 13.70
Jio Financial
246.37 -4.34
Adani Ports
1657.3 -3.80
HDFC Life Insur.
586.9 -7.50
SBI Life Insuran
1819 2.80
Max Healthcare
993.05 -13.55
UltraTech Cem.
11586 -247.00
Bajaj Auto
9994 450.50
Bajaj Finserv
1747.2 -17.00
Interglobe Aviat
4295.3 -49.90
Eternal
247.03 -7.00
Gujarat Gas (GGL) announced that the Scheme of Arrangement involving GSPC Group has come into effect on 1 May 2026. It had earlier announced receipt of Final Order from the Ministry of Corporate Affairs (MCA) sanctioning the mega Scheme on 17 April 2026.
The Scheme of Arrangement was announced on 30 August 2024 followed by Investors' Call on 31st August 2024 upon approval by Board of Directors of the respective companies. The market had welcomed the development and the shares of GGL and GSPL both saw significant positive moments following the announcement. The Scheme had also been positively recommended by Proxy Advisors - SES and IiAS - followed by the Shareholders of GSPL and GGL approving the Scheme with thumping majority in October 2025.
With the Scheme taking effect from 1 May 2026, Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet (GSPL) stand merged into GGL while the Gas Transmission Business Undertaking stand demerged into GSPL Transmission (GTL). The Scheme having taken effect from 1st May, 2026, GGL is poised to become a strengthened integrated energy Company housing Gas Trading, Exploration & Production and Wind Power Generation Businesses apart from its current stronghold - the City Gas Distribution business. Given the expanded scope of GGL's business in the energy space, the name of GGL will also be changed to Gujarat Energy shortly.
With the Scheme becoming effective, GGL will also have investments in diversified businesses including gas-based power generation (GSEG and GPPC), LNG Terminal (GSPC LNG) city gas distribution (Sabarmati Gas) and information technology enabled services (Guj Info Petro).
Simultaneously from 1 May 2026, the gas transmission business of Gujarat State Petronet (GSPL) has been demerged into GTL which will also be soon listed on the BSE and NSE. The Scheme having become effective on 1 May 2026, the same will provide GTL a focused growth approach with GTL becoming a pure-play gas transmission entity housing close to 2800 KMs of gas pipeline network in Gujarat and investments in two cross-country pipelines - GSPL India Gasnet and GSPL Indian Transco.
While the Record Date for allotment of shares by GGL to the shareholders of GSPC and GSPL has been set as 12 May, 2026, the Record Date for allotment of shares by GTL to the shareholders of GGL would be announced after completing allotment of shares by GGL.
In accordance with the share exchange ratio under the Scheme, GSPC shareholders will receive 10 equity shares of GGL for every 305 equity shares held in GSPC, while GSPL shareholders will receive 10 equity shares of GGL for every 13 equity shares held in GSPL. Further, the Shareholders of GGL will receive 1 equity share of GTL for every 3 equity shares held in GGL pursuant to demerger of gas transmission business into GTL and a separate Record Date in this regard will be announced in due course of time.
Once the allotment under the Scheme is over, the Government of Gujarat will directly hold approx. 38.80% holding while the holding of Government of Gujarat together with other GoG Controlled entities would be approx. 56% in both the listed entities viz. GGL and GTL with balance shareholding to be held by public shareholders.
The Scheme of Arrangement was pursued with stated objectives of streamlining group holding structure within GSPC Group, creating synergies by combining related businesses while remaining fully compliant with regulatory requirement of having gas transmission business housed into an independent legal entity as also to achieve value unlocking for GSPL's shareholders. With the Scheme becoming effective, all the above stated objectives are poised to be fully achieved.