Essar Oil calls off Delisting from the bourses

New Delhi, Nov 16 (UNI) The Board of Essar Oil Ltd today said that the promoters of the company no longer intend to proceed with the delisting of equity shares from the Indian Stock Exchanges.

The Ruias of Essar had decided to quit the bourses in January and delist Essar Oil Ltd from both the BSE and the NSE.

The company had look to delist in what it had said will offer greater flexibility in the operations and management of the company, enhance efficiencies and at the same time provide an exit opportunity for the shareholders of the company.

Essar Energy Holdings Ltd (EEHL), a Mauritius-based subsidiary is the largest shareholder and promoter of Essar Oil Ltd holding about 88 per cent stake in Essar Oil.

UNI