Gujarat Energy Limited Approves Reclassification of Promoter Shareholder GSEG
Gujarat Energy Limited (GEL) has approved the request from Gujarat State Energy Generation Limited (GSEG) to be reclassified from a 'Promoter' category entity to a 'Public Shareholder'. This decision followed a review of GSEG’s status and its changing corporate structure subsequent to a recent Scheme of Arrangement.The Board of Directors reviewed GSEG's application, which sought the change in classification due to the completed structural reorganization. The approvals relate to the Equity Shares of GSEG originally held by Gujarat State Petroleum Corporation Limited and Gujarat State Petronet Limited, which were transferred to GEL.Following the transfer...