Gujarat Gas Limited (NSEI:GUJGASLTD) agreed to acquire Gujarat State Petronet Limited (NSEI:GSPL) from Gujarat State Petroleum Corporation Limited and others for INR 260 billion on August 30, 2024. The consideration consists of the common equity of Gujarat Gas Limited at a ratio of 0.769231 per common equity of Gujarat State Petronet 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. 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.
Ernst & Young LLP acted as tax advisor to GGL, Shardul Amarchand Mangaldas & Co acted as legal advisor to GGL. Saffron Capital Advisors Private Limited acted as a fairness opinion provider to GGL and Fortress Capital Management Services Private Limited acted as a fairness opinion provider to GSPL. The transaction is subject to approval of shareholders of Gujarat State Petronet Limited.
Gujarat Gas Limited (NSEI:GUJGASLTD) completed the acquisition of Gujarat State Petronet Limited (NSEI:GSPL) from Gujarat State Petroleum Corporation Limited and others on May 1, 2026. The Scheme having become effective on 1st May 2026, the same will provide GTL a focused growth approach with GTL becoming a pure-play gas transmission entity housing close to 2800 KMs of gas pipeline network in Gujarat and investments in two cross-country pipelines ? GSPL India Gasnet Limited and GSPL Indian Transco Limited.
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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