MUMBAI, June 21 (Reuters): Essar Oil Ltd said its board would meet on Monday to consider delisting the company from the Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd.
This follows the delisting of its parent Essar Energy Plc from the London Stock Exchange this month.
Essar Oil, a unit of India's diversified Essar Group, would be delisted after founders buy the shares owned by the company's public shareholders, it said a statement on Friday.
The public shareholders own 27.5 per cent of Essar Oil, the statement said.
The delisting proposal is part of plans to take the energy business of Essar Energy Plc private to provide increased financial flexibility to support its business needs, it said.
Essar Oil may delist from local exchanges
FE Team | Published: June 22, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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