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An announcement from Gujarat Gas Ltd. ( (IN:GUJGASLTD) ) is now available.
Gujarat Gas Limited has informed stock exchanges that it has written to shareholders holding shares in physical form, urging them to dematerialise their holdings as the company transitions to issuing securities only in electronic (demat) form under a Composite Scheme of Amalgamation and Arrangement involving Gujarat State Petroleum Corporation, Gujarat State Petronet, GSPC Energy, Gujarat Gas and GSPL Transmission. Once the scheme takes effect following approval by the Ministry of Corporate Affairs, shareholders of Gujarat Gas on a designated record date will receive shares of GSPL Transmission in a prescribed share exchange ratio, but these new shares will be allotted solely in dematerialised form, with any entitlement for investors who fail to dematerialise in time being moved into a demat suspense escrow account until they complete the conversion, reinforcing regulatory moves toward full demat compliance and cleaner shareholding records.
More about Gujarat Gas Ltd.
Gujarat Gas Limited, a Government of Gujarat undertaking and part of the GSPC Group, operates in the city gas distribution sector, supplying natural gas and CNG to retail, industrial and commercial customers across Gujarat and other regions. The company is listed on both the National Stock Exchange of India and BSE, reflecting its role as a key player in India’s gas distribution and energy infrastructure market.
Average Trading Volume: 22,990
Technical Sentiment Signal: Hold
Current Market Cap: 269.4B INR
For detailed information about GUJGASLTD stock, go to TipRanks’ Stock Analysis page.