Gujarat State Petronet Limited Fixes Record Date for Composite Scheme of Arrangement

Gujarat State Petronet Limited has announced the fixation of record date for its composite scheme of arrangement, marking a significant milestone in the corporate restructuring involving multiple entities within the GSPC group. The company has informed stock exchanges about the board meeting outcome and key implementation details.

Record Date and Share Exchange Details

The company has set Tuesday, May 12, 2026 as Record Date 2 for determining eligible shareholders under the composite scheme of arrangement. This decision was made by Gujarat Gas Limited in consultation with GSPL following regulatory approvals.

Parameter Details Record Date May 12, 2026 Total GGL Shares to be Issued 27,06,97,005 Share Exchange Ratio 10:13 GGL Share Face Value ₹2 per share GSPL Share Face Value ₹10 per share

Share Exchange Mechanism

Under the approved scheme, GSPL shareholders will receive 10 fully paid-up equity shares of ₹2 each of Gujarat Gas Limited for every 13 equity shares of ₹10 each held in Gujarat State Petronet Limited. This exchange ratio has been structured as part of the comprehensive corporate restructuring involving multiple group entities.

Trading and Implementation Timeline

A critical aspect for investors is that GSPL securities will cease trading on both BSE Limited and National Stock Exchange of India Limited from the record date. Only shareholders whose names appear in the register of members as on May 12, 2026 will be eligible for the equity share allotment of Gujarat Gas Limited.

Milestone Date MCA Order Received April 17, 2026 Board Meeting Date April 29, 2026 Expected Effective Date May 1, 2026 Record Date May 12, 2026

Regulatory Approvals and Effective Date

The board meeting held on April 29, 2026 took note of the order dated April 8, 2026 received from the Ministry of Corporate Affairs sanctioning the composite scheme of arrangement. The effective date is expected to be around Friday, May 1, 2026, coinciding with the filing of e-Form INC-28 with the Registrar of Companies, Ahmedabad.

Composite Scheme Structure

The arrangement involves multiple entities including Gujarat State Petroleum Corporation Limited as Transferor Company 1, Gujarat State Petronet Limited as Transferor Company 2, GSPC Energy Limited as Transferor Company 3, Gujarat Gas Limited as the Transferee Company, and GSPL Transmission Limited as the Resulting Company. This comprehensive restructuring aims to reorganize the group's business operations and shareholding structure.

The company has made this information available on its website at www.gspcgroup.com for investor reference and transparency.

Gujarat State Petronet Limited has received a rectification order from the Income Tax Department that reduces its assessed income for Assessment Year 2024-25 by Rs.248 crores. The company informed stock exchanges about this development on April 10, 2026, in compliance with SEBI listing regulations.

Rectification Order Details

The Assistant Commissioner of Income Tax, Gandhinagar Circle, issued the rectification order under Section 154 of the Income Tax Act, 1961, dated April 9, 2026. This order rectifies the company's earlier tax assessment for Assessment Year 2024-25 (Financial Year 2023-24).

Parameter Details Issuing Authority Assistant Commissioner of Income Tax, Gandhinagar Circle Order Date April 9, 2026 Receipt Date April 10, 2026 Assessment Year 2024-25 (FY 2023-24) Legal Provision Section 154 of Income Tax Act, 1961

Assessment Income Revision

The rectification order significantly reduces the company's assessed income in the tax computation. The revision shows a substantial decrease from the originally assessed amount.

Assessment Details Amount (Rs. Crores) Original Assessed Income 1,683 Revised Assessed Income 1,435 Reduction 248

Financial Impact Assessment

Gujarat State Petronet has clarified that despite the substantial revision in assessed income, the financial impact on the company will be nil. The company has not identified any violations or contraventions in connection with this rectification order.

Regulatory Compliance

This disclosure follows the company's earlier intimation dated March 23, 2026, regarding the receipt of an income tax order under Section 143(3) read with Section 144B of the Income Tax Act, 1961, for the same assessment year. The company has fulfilled its obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by promptly informing both BSE and NSE about the rectification order.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.