Gujarat Gas Limited (NSEI:GUJGASLTD) entered into Composite Scheme of Arrangement and Amalgamation to acquire Gujarat State Petroleum Corporation Limited from Government of Gujarat for approximately INR 210 billion on August 30, 2024. Gujarat Gas Limited will issue 10 equity shares for every 305 of Gujarat State Petroleum Corporation Limited.
The transaction is subject to approval of Gujarat Gas Limited's shareholders and regulatory authorities. The transaction has been approved by the board of Gujarat Gas Limited. The transaction is expected to close in August 2025. As of October 17, 2025, the transaction has been approved by Hon?ble Ministry of Corporate Affairs. As of October 18, 2025, the transaction has been approved by shareholders of Gujarat Gas Limited. On April 17, 2026, the transaction was approved by the Hon?ble Ministry of Corporate Affairs (?MCA?).
Ernst & Young LLP acted as accountant for Gujarat Gas Limited. Jatin Aneja, Anirudh Das, Kushal Sinha, Manika Brar, Kanwardeep Kapany and V R Neelakantan of Shardul Amarchand Mangaldas & Co acted as legal advisor for Gujarat Gas Limited. Saffron Capital Advisors Private Limited acted as fairness opinion provider for Gujarat Gas Limited. Fortress Capital Management Services Private Limited acted as fairness opinion provider to Gujarat State Petronet Limited.
Gujarat Gas Limited (NSEI:GUJGASLTD) completed the acquisition of Gujarat State Petroleum Corporation Limited from Government of Gujarat on May 1, 2026. Once the allotment under the Scheme is over, the Government of Gujarat will directly hold approx. 38.80% holding while the holding of Government of Gujarat together with its other controlled entities would be approx. 56% in both the listed entities viz. Gujarat Gas Limited and GSPL Transmission Limited with balance shareholding to be held by public shareholders.
Gujarat Energy Limited, formerly Gujarat Gas Limited, is a city gas distribution company. It is engaged in natural gas, involving distribution of gas from sources of supply to centers of demand and to the end customers through its city gas distribution network. It is developing city gas distribution (CGD) networks to supply piped natural gas to industrial, commercial and domestic customers and compress natural gas to automobiles (CNG run vehicles). It has investments in diversified businesses, including gas-based power generation (GSEG and GPPC), LNG Terminal (GSPC LNG Limited), city gas distribution (Sabarmati Gas Limited) and information technology enabled services (Guj Info Petro Limited). It operates in 44 districts in six states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab & Madhya Pradesh and one Union territory of Dadra & Nagar Haveli. It operates over 834 CNG stations and has connected more than 23.83 lakh households and over 15,900 commercial customers.
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