Gujarat Gas Limited agreed to Spin-Off 74.14% stake in GSPL Transmission Limited on August 30, 2024. As per the Scheme, the gas transmission business means the business unit engaged in the business of transmission of natural gas through pipeline on an open access basis from supply points to demand centers, comprising of the entire part of the business and activities will be merged into GSPL Transmission Limited. Gujarat Gas Limited shareholders will receive one share in GSPL Transmission for every three shares they held in Gujarat Gas Limited.
The turnover of gas transmission business reported INR 19.8 billion for the period ended March 31, 2024. The equity shares of GTL shall be listed and admitted to trading on BSE and NSE pursuant to the Scheme, subject to receipt of requisite approvals from statutory and regulatory authorities. As of February 3, 2025 Gujarat Gas Limited has received Observation Letter from the BSE Limited with ?No Adverse Observations?.
Copy of the said Letter from the National Stock Exchange of India Limited is awaited. The Scheme of Arrangement and Amalgamation remains subject to statutory and regulatory approvals.
