Essar Shipping to merge India Shipping

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New Delhi, Feb 13 (UNI) Essar Shipping Ltd today said its board has approved merger of the Mauritius-based India Shipping with itself.

''The board has approved issuing 32 equity shares of Essar Shipping for every 100 shares held in India Shipping, which has a face value of one dollar each,'' a company statement said.

India Shipping is the holding firm of Essar Oilfield Services Ltd.

UNI SR DB1235

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