BackEssar Shipping gets shareholders nod for delisting
Essar Group is in the midst of delisting Essar Shipping, Essar Ports and Essar Oil from Indian stock exchanges
Premium
Mumbai: The shareholders of Essar Shipping Ltd on Tuesday approved the company’s delisting proposal, the firm said in a notification to the exchanges.
The Essar Group is in the midst of delisting Essar Shipping, Essar Ports Ltd and Essar Oil Ltd from the stock exchanges in the country. In October, the group said the lack of investor appetite and the promoter group’s need for increased flexibility were the main reasons for delisting.
The promoter group holds 75% of the stake in Essar Shipping, while 25% is held by the public.
At 2.10pm, the stock of Essar Shipping was trading at ₹ 23.80 on BSE, up 3.7%, while India’s benchmark Sensex fell 0.02% to 28,171.38 points.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
