Essar Oil board approves delisting from BSE and NSE
MUMBAI (Reuters) - Refiner Essar Oil Ltd on Monday said its board had approved delisting of shares from the BSE Ltd and National Stock Exchange of India Ltd.
Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.
The move is part of Essar Oil's plans to take the energy business of Essar Energy Plc private to provide increased financial flexibility to support its business needs.
On Friday, the company said the delisting would take place after its founders buy the 27.5 percent of Essar Oil that is owned by public shareholders.
(Reporting by Zeba Siddiqui in Mumbai; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Three major nations absent as China launches W.Bank rival in Asia
- Gold sales jump about 20 pct for Diwali - trade body
- Special Report: Why Madrid's poor fear Goldman Sachs and Blackstone
- China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns
- ISL probes allegation of assault on Pires
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article