Gujarat Energy Limited Compensates Shareholders After Fractional Entitlement Allotment

Gujarat Energy Limited Compensates Shareholders After Fractional Entitlement Allotment​

Gujarat Energy Limited has completed the compensation of shareholders who were entitled to fractional entitlements following the Composite Scheme of Amalgamation and Arrangement involving several energy companies. The distribution was finalized after the sale of consolidated shares by an Independent Trustee.

The allotted shares represented a significant portion of the merger process, which became effective on May 1, 2026. On May 16, 2026, a total of 62,27,14,719 Equity Shares of INR 2/- each were allocated to shareholders of Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL). The allotment was based on specific Share Exchange Ratios.

The Company reported that the T1 Share Exchange Ratio provided 10 fully paid Equity Shares of INR 2/- for every 305 Equity Shares of INR 1/- held in Transferor Company 1. Meanwhile, the T2 Share Exchange Ratio allotted 10 Equity Shares of INR 2/- for every 13 fully paid Equity Shares of INR 10/- held by shareholders in Transferor Company 2.

Fractional Entitlement Management​

During the determination of the allotment, certain shareholders were entitled to fractional entitlements. In compliance with regulatory requirements and the Scheme, all fractional shares were consolidated and aggregated into a total of 98,334 Equity Shares, each having a face value of INR 2/-. These consolidated shares were allotted directly to IDBI Trusteeship Services Limited, appointed as the Independent Trustee.

The Trustee held these consolidated entitlements in trust for the benefit of Eligible Shareholders. The Trustee executed the sale of these fractional shares on July 20, 2026, at the market price. Following the sale and deduction of expenses, the Company completed the distribution of the net proceeds to the Eligible Shareholders on August 7, 2026, in proportion to their respective fractional entitlements after deducting applicable TDS.

Financial Summary of Proceeds Distribution​

The transaction involving the resale of the consolidated shares yielded specific financial results:

Committee Certification​

Both the Committee of Independent Directors and the Audit Committee confirmed the proper completion of the compensation process.

The Committee of Independent Directors certified that the proceeds from the sale of fractional entitlements were distributed to Eligible Shareholders in proportion to their entitlements. Similarly, the Audit Committee certified that the proceeds had been duly compensated to the shareholders as per the Scheme requirements.

GUJENERGY Stock Price Movement​

GUJARAT ENERGY LIMITED shares surged today, closing at ₹274.40 after climbing 3.22% in post-market trading. The stock traded within a range of ₹266 to ₹279, with approximately 1.46 million shares changing hands.