What to Watch. Essar Ports delisting offer opens today

The delisting offer from the promoters of Essar Ports opens on Friday. The company has fixed the floor price at ₹93.66 for acquiring 10.72 crore shares (or 25.06 per cent) from public shareholders. The promoter group collectively holds 74.94 per cent of the total share capital of Essar Ports. The delisting offer closes on November 5. The company said the delisting is being done to achieve complete operational/ financial flexibility in furtherance of its goals.