GSPL Transmission Limited Approves Allotment of 31 Crore Equity Shares Pursuant to Amalgamation Scheme
GSPL Transmission Limited (GTL) has approved the allotment of equity shares under the Composite Scheme of Amalgamation and Arrangement involving several entities. The allotment is directed towards shareholders of Gujarat Energy Limited, as determined on a specific record date.The Board of Directors of GTL approved the allocation of 31,27,43,617 equity shares of the Resulting Company. These shares were allotted to the Equity Shareholders of Gujarat Energy Limited, which was formerly known as Gujarat Gas Limited.
The allotment decision was based on the Share Exchange Ratio prescribed under the Scheme and applied to shareholders who held Equity Shares as on the Record Date, specified as July 2, 2026. The equity shares carry a face value of ₹ 10/- each.
In relation to the new issuance, GTL has confirmed that it will initiate necessary applications for the listing of these equity shares. Until such listing and trading permission is granted by the Stock Exchanges, specifically NSE and BSE, the allotted shares shall remain frozen within the depository system.
GUJENERGY Stock Price Movement
On Wednesday, shares of GUJARAT ENERGY LIMITED edged higher to settle at ₹286.85 after closing a gain of 0.3%. The stock closed near its yearly low, with approximately 1.07 million shares trading during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.