Gujarat Gas lists after amalgamation; hits lower circuit

Shares of Gujarat Gas listed on the bourses as a new entity today after the amalgamation process.
Trading of the earlier listed entity Gujarat Gas Company Limited (GGCL) was suspended due to procedural reasons.
The stock opened the day at Rs 680, down 8.49 per cent, from its previous closing price of Rs 743.10 on NSE.
It finally ended at Rs 646, reflecting a loss of 13 per cent.
On BSE, shares of the company listed at Rs 680 and later closed the day at Rs 646.
The stock hit lowest trading permissible limit on both the exchanges during the day.

GGCL shares had last closed on BSE at Rs 745.60 apiece.

A BSE filing by Gujarat Gas Company Ltd in May this year states that Gujarat Gas Co and GSPC Gas Co amalgamation process is now complete.
GSPC Gas Co Ltd and Gujarat Gas Co Ltd is now Gujarat Gas Limited.
The composite scheme of arrangement in nature of amalgamation of erstwhile GSPC Gas Company, erstwhile Gujarat Gas Company Limited, erstwhile Gujarat Gas Financial Services and erstwhile Gujarat Gas Trading Company with Gujarat Gas Limited, formerly known as GSPC Distribution Networks, the filing had said.