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BSE SENSEX
72,493.48
+4.49
+0.01 %
Corporate Announcement
Security Code
532702
Company
Gujarat State Petronet Ltd
Exchange Received Time
28/03/2018 14:40:06
Exchange Disseminated Time
28/03/2018 14:40:14
Time Taken
00:00:08
Announcement under Regulation 30 (LODR)-Updates on Acquisition |
3/28/2018 2:40:06 PM
Ref: GSPL Disclosures dated 19th March, 2018 and 27th March, 2018 in relation to acquisition of upto 3,91,06,328 Equity Shares held by GSPC in GGL.
With reference to the captioned Disclosures made by the Company under relevant regulations of SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has further acquired/purchased 1,44,39,414 Equity Shares of GGL (i.e., 10.49% of the fully Paid-Up Equity Share Capital of Gujarat Gas Limited) from GSPC, by way of an inter-se promoter transfer in accordance with Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 through a Block Deal on 28th March, 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 in terms of the provisions of Section 2(87) of the Companies Act, 2013 GGL has become Subsidiary Company of GSPL.
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