Gujarat State Petronet ratings remain on developing watch amid restructuring

Gujarat State Petronet Limited (GSPL) announced on December 9, 2025, that CARE Ratings Limited has issued a press release regarding the credit rating assigned to its bank facilities. The long-term bank facilities and long-term/short-term bank facilities both continue to be on "Rating Watch with Developing Implications." The long-term rating is placed on Rating Watch with Developing Implications, while the short-term rating is reaffirmed.

The long-term bank facilities amount to ₹50.00 crore, reduced from ₹500.00 crore, and the long-term/short-term bank facilities total ₹250.00 crore, reduced from ₹300.00 crore. These ratings reflect ongoing monitoring by CARE Ratings, following the proposed amalgamation of GSPL into Gujarat Gas Limited (GGL) and the demerger of its gas transmission business into GSPL Transmission Limited (GTL), alongside two transmission joint ventures. The company’s overall facilities rated amount is ₹300.00 crore.

The scheme, approved by shareholders and awaiting further regulatory clearances, is expected to finalize by January 2026. CARE Ratings will continue to monitor developments and reassess the ratings once the merger and demerger processes are completed, considering the potential impact on GSPL's credit profile.