Merger / Amalgamation Corporate Action

GSPL Shareholders to Receive Gujarat Gas Shares in 10:13 Swap Ratio Under Amalgamation Scheme

NSE

gspl

BSE

532702

Under the approved amalgamation and demerger scheme, GSPL shareholders will receive 10 shares of Gujarat Gas Limited (GGL) for every 13 GSPL shares held, with May 12, 2026 fixed as record date and trading suspension announced.

PRICE-SENSITIVE TRIGGER

Event: Record Date Announcement & Share Swap Details

Type: Merger / Amalgamation Corporate Action

Impact: Neutral to Positive

Immediate Effect: Clarifies swap ratio and record date, enabling investors to assess post-merger value and positioning

Key Metrics:

Swap Ratio:
- 10 shares of GGL (₹2 FV)
- For every 13 shares of GSPL (₹10 FV)
Record Date: May 12, 2026
Trading Suspension:
- Effective: May 12, 2026
- (Trading closes May 11, 2026)

Highlight:

Defined share swap ratio provides valuation clarity for merger

What Happened ?

Gujarat State Petronet Limited (GSPL) has informed shareholders about:

Record date for share allotment under Composite Scheme of Amalgamation & Arrangement
Share swap ratio for receiving Gujarat Gas Limited (GGL) shares
Trading suspension timeline for GSPL shares

key highlights

Share Swap Mechanism:

Shareholders of GSPL will receive:
- 10 GGL shares for every 13 GSPL shares held
Shares will be issued automatically
No additional application required

Record Date & Trading Impact:

Record Date: May 12, 2026
Trading suspension:
- From closing hours of May 11, 2026
Necessary for corporate restructuring execution

Scheme Structure:

Amalgamation of:
- GSPC, GSPL, GEL → into GGL
Demerger:
- Gas transmission business → separate entity (GTL)
Multi-entity restructuring under Companies Act

Listing & Share Allotment:

GGL shares to be listed post issuance
Subject to regulatory approvals
Shareholders migrate to new entity structure

Registrar Details:

Registrar & Transfer Agent:
- KFin Technologies Ltd
Handles shareholder communication and allotment

Note:

Final value realization depends on GGL market price vs GSPL holding

Risk Analysis

Key Risks

Market may price swap ratio differently
Temporary liquidity impact due to trading suspension
Integration and restructuring execution complexity
Post-merger valuation uncertainty
Regulatory and procedural delays

Worst Case Scenario

Unfavorable valuation perception leading to stock volatility post-merger

Risk Level: Medium

Company Commentary

Scheme approved by MCA
Record date fixed for share allotment
Share swap to be executed automatically
Trading suspension in compliance with regulations

Official Exchange Filing: Gujarat State Petronet Limited

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Jignesh Kanabar

19/05/2026 at 5:25 PM

When we receive Ggl share credited in my demate account

Innovacia Insights
19/05/2026 at 5:35 PM
Record date is 12 May 2026. If you held GSPL shares in your demat account on that date, you’re eligible for GGL shares in the ratio of 10 GGL shares for every 13 GSPL shares held. The shares should be credited after allotment and listing approvals are completed.

Amretha Rashmi

25/05/2026 at 4:20 PM

Gujarat Gas Ltd. / Gujarat Energy Ltd. shares are not yet credited to Demat account. When will the shares be credited to Demat account?

Innovacia Insights
25/05/2026 at 4:30 PM
The shares should be credited after allotment and listing approvals are completed.

TippasandraBhima Rao SHANTHARAMA MURTHY

29/05/2026 at 11:18 AM

When will be GGL shares will be credited to GSPL shareholders.Record date 12-05-2026.Is it not to be credited by this date?

Innovacia Insights
29/05/2026 at 11:34 AM
The record date only determines shareholder eligibility. Share credits are usually done after the completion of all regulatory and corporate formalities. The shares are not necessarily credited on the record date itself. Investors may need to wait for the company to announce the allotment and credit schedule.