Essar Oil board approves delisting

The board of directors of Essar Oil, which met today, approved a proposal for delisting the company's shares from the bourses, and has decided to seek the consent of shareholders for the purpose.

According to a release issued to the BSE today, Essar Energy Holdings (EEHL), along with persons acting in concert (PAC), holds 21,79,81,874 equity shares and 51,26,708 global depository shares representing 78,43,86,324 shares aggregating 87.96% of the total equity share capital of company.

Essar Steel had got approval from the board yesterday for delisting its shares from the bourses.