GUJGASLTD

The Company (also formerly known as GSPC Distribution Networks Limited) is India's largest city gas distribution player with the presence spread across 22 Districts in Gujarat and Union Territory of Dadra Nagar Haveli and Thane GA that includes Palghar district of Maharashtra. It also has India's largest customer base in major user segments. It also has about 20000 km of the gas pipeline network and 291 CNG stations, and it provides close to 6 mmscmd of Natural Gas to more than 12.50 lakh households about 6 lakh vehicles and 3295 industrial customers. Also, Gujarat Gas Limited (also known as GSPC Distribution Networks Limited) was being incorporated as of 21 February 2012 as a public limited company under the Companies Act 1956 with an objective to carry on sale purchase supply distribution transport trading in Natural Gas CNG LNG & another Gaseous form via Pipelines Trucks/Trains or the other mode for transportation/distribution of Natural Gas CNG LNG LPG & the other Gaseous Form. In October 2012, it announced that it had signed a definitive agreement for acquiring a 65.12% equity stake in Gujarat Gas Company Limited (or GGCL) from London-based British Gas Group via Gujarat Gas Limited (or GGL). It also paid INR 295 per share to BG Group for acquiring its 65.12% stake in GGCL aggregating to INR 2463.46 crore. It also acquired a further 8.58% stake in GGCL via an open offer to the shareholders of GGCL for INR 314.17 per share aggregating to INR 347.68 crore. Also, the board members at its meeting being held on 24 February 2014 granted in-principle to the consolidation by way of amalgamation of GGL GSPC Gas GGCL GFSL and GTCL via a High Court approved Composite Scheme of Amalgamation and Arrangement. Also, the board meeting being held on 21 April 2014 approved the Scheme of Amalgamation. According to the Scheme, it has been vested with the city gas distribution (or CGD) business of GSPC Gas Gujarat Gas Company Limited (or GGCL) GFSL and GTCL with effect since 1 April 2013. Also, it was listed on the bourses on 15 September 2015. On 17 December 2015, it informed the stock exchanges that it had executed a Gas Purchase Contract for Regasified LNG with Gujarat State Petroleum Corporation Limited. It shall effectively enable GGL to purchase 0.50 mmscmd additional Regasified LNG on a long term basis that is valid up to 0600 hrs of 1 July 2025. On 4 June 2016, it informed the stock exchanges that PNGRB vide its letter as of 27 May 2016 has granted authorization to the company to lay build operate or expand the City or Local Natural Gas Distribution network (or CGD network) for the Geographical Area of Amreli district in Gujarat and GGL also accepted the authorization. Also, as per the provisions of the PNGRB (Exclusivity for City or Local Natural Gas Distribution Networks) Regulation 2008, it granted 300 months of infrastructure exclusivity, i.e., valid up to 26 May 2041 and 60 months of marketing exclusivity that is valid up to 26 May 2021 for the CGD network. Moreover, the authorized area for laying building operating or expanding the proposed CGD Network shall cover a geographical area of 7477 sq. Km. On 13 June 2016 Gujarat Gas (GGL) informed the stock exchanges that PNGRB vide its letter dated 6 June 2016 has granted authorization to the company to lay build operate or expand City or Local Natural Gas Distribution network (CGD network) for the Geographical Area of Dahej-Vagra Taluka Bharuch district in Gujarat and GGL has accepted the authorization. On 27 June 2016, it informed the stock exchanges that PNGRB has issued the letter dated 22 June 2016 for Grant of Authorisation to the company to lay build operate or expand City or Local Natural Gas Distribution network (or CGD network) for the Geographical Area of Ahmedabad district (and excluding the area already authorized) in Gujarat and GGL also accepted the authorization in Schedule D of the PNGRB vide a confirmation letter to PNGRB as of 27 June 2016. Also, as per the provisions of the PNGRB Regulation 2008, it was granted 300 months of infrastructure exclusivity, i.e., valid up to 26 June 2041 and 60 months of marketing exclusivity valid up to 26 June 2021 for the CGD network. Further, the Authorised area for laying building operating or expanding the proposed CGD Network shall cover a geographical area of 3636 sq. Km. On 7 July 2016 Gujarat Gas informed the stock exchanges that pursuant to the letter from the PNGRB dated 4 July 2016 for Grant of Authorisation to Gujarat Gas Limited (GGL) to lay build operate or expand City or Local Natural Gas Distribution network (CGD network) for the Geographical Areas of Panchmahal District and Anand District (excluding the area already authorized) in the State of Gujarat GGL has accepted both the authorization in Schedule D of the PNGRB vide a confirmation letter to PNGRB on 7 July 2016. Also, as per the provisions of the PNGRB Regulation 2008, it was granted 300 months of infrastructure exclusivity, i.e., valid up to 3 July 2041 and 60 months of marketing exclusivity and valid up to 3 July 2021 for each of the CGD networks. Moreover, the authorized area for laying building operating or expanding the proposed CGD Network covered up a geographical area of 3304 sq. Km for Panchmahal District and 1888.96 sq. Km for Anand District. On 30 May 2017, it announced that it has entered into a non-binding MoU with Petronet LNG Limited (or PLL) for exploring - dispensing and marketing of LNG including the L-CNG at GGL CNG stations.