Gujarat State Petronet (GSPL) has received an approval for acquisition of up to 3,91,06,328 equity shares of Gujarat Gas (up to, 28.40% of the paid-up equity share capital of Gujarat Gas) from Gujarat State Petroleum Corporation (GSPCL) by way of an inter-se transfer in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This approval is subject to conditions precedent in the Share Purchase Agreement as may be executed between the company and GSPCL.
Gujarat State Petronet (GSPL) is a natural gas infrastructure and transmission company engaged in gas transportation business. The company is engaged in transmission of natural gas through pipelines on an open access basis from supply points to demand centers.
