Essar Board approves merger with India Shipping

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New Delhi, Feb 17 (UNI) Essar Shipping Ltd said its board has approved its merger with Mauritius-based India Shipping.

''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 MP BST1404

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