You can view the shareholding pattern for the latest three quarters for the company
under two broad categories (Promoter & Non Promters).
Shareholding Pattern as on
31/12/2025
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| (A) Promoter & Promoter Group | 3 | 87,800,917 | 87,800,917 | 56.57 | 56.57 | 3,964,756 | 4.52 | 87,800,917 | | (B) Public | 93,138 | 67,415,027 | 67,415,027 | 43.43 | 43.43 | 0 | 0.00 | 66,858,195 | | (C1) Shares underlying DRs | 0 | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0 | | (C2) Shares held by Employee Trust | 0 | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0 | | (C) Non Promoter-Non Public | 0 | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0 |
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| Any Other (specify) | 3 | 87,800,917 | 0 | 87,800,917 | 56.57 | 87,800,917 | | Gujarat Urja Vikas Nigam Limited | 1 | 38,384,397 | 0 | 38,384,397 | 24.73 | 38,384,397 | | Gujarat Alkalies and Chemicals Limited | 1 | 25,071,358 | 0 | 25,071,358 | 16.15 | 25,071,358 | | Gujarat State Fertilizers and Chemicals Limited | 1 | 24,345,162 | 0 | 24,345,162 | 15.68 | 24,345,162 | | Liquidators Petrofills Cooperative Limited | 0 | 0 | 0 | 0 | 0.00 | 0 | | Grand Total | 3 | 87,800,917 | 0 | 87,800,917 | 56.57 | 87,800,917 | |
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| Mutual Funds | 6 | 6,628,239 | 0 | 6,628,239 | 4.27 | 6,626,939 | | Hdfc Trustee Company Ltd. A/C Hdfc Balanced Advantage Fund | 1 | 6,327,000 | 0 | 6,327,000 | 4.08 | 6,327,000 | | Insurance Companies | 1 | 44,545 | 0 | 44,545 | 0.03 | 44,545 | | Alternate Investment Funds | 4 | 950,619 | 0 | 950,619 | 0.61 | 950,619 | | NBFCs registered with RBI | 2 | 71,000 | 0 | 71,000 | 0.05 | 71,000 | | Banks | 1 | 50 | 0 | 50 | 0.00 | 50 | | Foreign Portfolio Investors Category I | 32 | 4,054,285 | 0 | 4,054,285 | 2.61 | 4,054,285 | | First Water Fund | 1 | 2,114,310 | 0 | 2,114,310 | 1.36 | 2,114,310 | | Foreign Portfolio Investors Category II | 3 | 29,110 | 0 | 29,110 | 0.02 | 29,110 | | Other Foreign Institutions | 1 | 200 | 0 | 200 | 0.00 | 200 | | The Hongkong And Shanghai Banking Corp.Ltd. | 1 | 200 | 0 | 200 | 0.00 | 200 | | Sub Total | 50 | 11,778,048 | 0 | 11,778,048 | 7.59 | 11,776,748 | |
| Any Others (Specify) | 2,148 | 2,688,594 | 0 | 2,688,594 | 1.73 | 2,688,144 | | HUF | 2,067 | 2,138,971 | 0 | 2,138,971 | 1.38 | 2,138,521 | | LLP | 39 | 293,356 | 0 | 293,356 | 0.19 | 293,356 | | Clearing Members | 36 | 246,009 | 0 | 246,009 | 0.16 | 246,009 | | Trusts | 5 | 9,000 | 0 | 9,000 | 0.01 | 9,000 | | Unclaimed or Suspense or Escrow Account | 1 | 1,258 | 0 | 1,258 | 0.00 | 1,258 | | Bodies Corporate | 422 | 3,570,666 | 0 | 3,570,666 | 2.30 | 3,568,766 | | Resident Individuals holding nominal share capital up to Rs. 2 lakhs | 88,953 | 26,558,258 | 0 | 26,558,258 | 17.11 | 26,033,409 | | Resident Individuals holding nominal share capital in excess of Rs. 2 lakhs | 137 | 7,998,173 | 0 | 7,998,173 | 5.15 | 7,998,173 | | Non Resident Indians (NRIs) | 1,419 | 2,629,394 | 0 | 2,629,394 | 1.69 | 2,629,394 | | Key Managerial Personnel | 1 | 10 | 0 | 10 | 0.00 | 10 | | Investor Education and Protection Fund (IEPF) | 1 | 637,478 | 0 | 637,478 | 0.41 | 637,478 | | Foreign Nationals | 1 | 100 | 0 | 100 | 0.00 | 100 | | Sub Total | 93,082 | 44,082,673 | 0 | 44,082,673 | 28.39 | 43,555,474 | |
| Central Government / President of India | 2 | 598,933 | 0 | 598,933 | 0.39 | 570,600 | | State Government / Governor | 4 | 10,955,373 | 0 | 10,955,373 | 7.06 | 10,955,373 | | Gujarat Power Corporation Limited | 1 | 4,977,491 | 0 | 4,977,491 | 3.21 | 4,977,491 | | Gujarat State Petroleum Corporation Limited | 1 | 3,697,000 | 0 | 3,697,000 | 2.38 | 3,697,000 | | Gujarat State Electricity Corporation Limited | 1 | 2,205,882 | 0 | 2,205,882 | 1.42 | 2,205,882 | | Sub Total | 6 | 11,554,306 | 0 | 11,554,306 | 7.45 | 11,525,973 | |
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