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Gujarat Gas Limited (GGL), a GSPC Group Company, has issued a communication to its physical shareholders requesting them to dematerialize their holdings. This request is in line with the Composite Scheme of Amalgamation and Arrangement involving Gujarat State Petroleum Corporation Limited (GSPC), Gujarat State Petronet Limited (GSPL), GSPC Energy Limited (GEL), Gujarat Gas Limited (GGL), and GSPL Transmission Limited (GTL).

As per the scheme, GTL will issue shares to shareholders of the amalgamating companies. Specifically, GGL shareholders as on a to-be-fixed Record Date 3 will receive 1 fully paid-up equity share of ₹10 each of GTL for every 3 fully paid-up equity shares of ₹2 each held in GGL. Crucially, GTL will mandatorily issue and allot these new shares in dematerialized form only.

Shareholders who do not dematerialize their physical holdings in GGL before Record Date 3 risk having their new GTL shares transferred to a Demat Suspense Escrow Account. This would necessitate a lengthy and complicated claiming process. The company highlights the benefits of holding shares in Demat form, including immediate transfer, safety, convenience, and elimination of risks associated with physical certificates.

Gujarat Gas Limited has appointed Trustwell Management Consulting & Services LLP to assist shareholders with KYC updates, dematerialization, duplicate share certificates, transmission of shares, IEPF claims, and other related matters. Shareholders can contact Trustwell at +91 88796 73001 / 02 or email info@trustwellms.com for assistance.