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Essar Ports, the demerged entity of Essar Shipping Port and Logistics (ESPLL), got listed on the BSE today at Rs 75 a share.
After opening, the scrip surged by 8.58 per cent to trade at Rs 103.80 in afternoon trade.
On the NSE, the scrip debuted at Rs 90.50 and was later quoting at Rs 103.40, up 8.90 per cent.
Earlier this month, ESPLL completed the demerger process for hiving off the company into two entities — Essar Ports Ltd and Essar Shipping Ltd.
According to the demerger plan, ESPLL will become Essar Ports Ltd, while the shipping, logistics and oilfield drilling businesses of the erstwhile entity will be spun off into a separate company called Essar Shipping Ltd.
ESPLL currently has a share capital of Rs 615 crore and it will be split into Rs 410 crore for Essar Ports Ltd and Rs 205 crore for Essar Shipping Ltd.
Shares of ESPLL stopped trading on the BSE from May 18 on account of the demerger.
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