Gujarat State Petronet (GSPL) has further acquired/purchased 1,44,39,414 Equity Shares of Gujarat Gas (GGL) (up to 10.49% of the fully Paid-Up Equity Share Capital of GGL) from Gujarat State Petroleum Corporation (GSPC) by way of an inter-se promoter transfer through a Block Deal on March 28, 2018 at a price of Rs 836.25 per share.
Subsequent to the same, GSPL now holds 54.16% of the fully paid-up Equity Share Capital of GGL and accordingly it has become Subsidiary Company of GSPL.
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.
