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Our Bureau

Mumbai , Dec. 1

Essar Shipping and Logistics Ltd (ESLL), the largest shareholder and promoter of Essar Shipping Ltd, plans to delist Essar Shipping from the Bombay Stock Exchange. ESLL and the promoter group currently hold around 76 per cent stake in Essar Shipping Ltd.

ESLL intends to delist through the voluntary delisting method. The exit price payable to the shareholders will be announced after taking the consent of the shareholders, an official release said.

ESLL will obtain consent of the shareholders for the delisting in accordance with SEBI (Delisting of Securities) Guidelines, 2003. The company will convene a board meeting on December 2 for the same.

The share price of Essar Shipping Ltd closed at Rs 28.05, up 18.86 per cent on the BSE on Friday.

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