Essar Oil will be voluntarily delisting the equity shares of the company currently listed on the Bombay Stock Exchange (BSE) and National Stock exchange (NSE) by purchasing shares held by public. This would imply that Essar Group would buy all the shares it doesn't own in Essar Oil. The number of equity shares held by public shareholders stand at 27.53%. Promoter firm, Essar Energy Holdings, incorporated under the laws of Mauritius, holds 71.22% stake in Essar Oil. A board meeting of Essar Oil has been scheduled for June 23 to consider the proposal to delist.
Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail.
