Essar Ports sets delisting price at Rs 133 per share

Essar Ports’ promoters have set the delisting price at Rs 133 per equity share. (Photo: Reuters)

Essar Ports on Friday informed BSE regarding proposed voluntarily delisting of the equity shares of the company pursuant to the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, as amended. The company has submitted an update received from the promoter in relation to the proposed delisting of the equity shares of the company.

In a BSE filing, the company said, “The discovered pursuant to tendering in the reverse book building process in terms of the Delisting Regulations is Rs 133 per equity share (“Exit Price”). The promoter has accepted the Exit Price as the final price for the Delisting Offer.

The share price of Essar ports was trading 0.71 per cent up at Rs 128.55 in the early trade at 9.46 am. Sensex was down 0.83 per cent at 25,651.60. The scrip opened at Rs 130.60 and had touched a high and low of Rs 130.60 and Rs 128.25, respectively, in trade so far.

The promoters holding in the company stood at 74.97 per cent while institutions and non-institutions held 11.79 per cent and 13.24 per cent, respectively.

In the past one year, shares of Essar Ports jumped 27 per cent to Rs 127.65 on November 11, while the key benchmark index BSE Sensex dipped 7.35 per cent during the same period.