GSPL Transmission’s shares began trading on the BSE and NSE on September 30 under the ticker GSPLTRANS. A total of 31,27,43,617 shares were listed on both exchanges.

The stock will initially trade in the trade-for-trade segment, where delivery of shares is compulsory for every trade. This is a standard practice for newly listed stocks.

The listing follows the company’s demerger process, which split its gas transmission business into a separately listed entity. Gujarat Energy confirmed the listing in its announcement.

Investors will track the stock’s early price discovery closely. New listings often see sharp swings in the first few sessions as the market finds a fair value.

GSPL Transmission operates gas transmission infrastructure in Gujarat. The separate listing is expected to give investors a cleaner play on the gas pipeline business. Trading will settle on a delivery basis in the initial sessions, as is standard for new listings. Analysts said the separate listing will help the market value the pipeline business on its own merits.