What happens to shares if company is delisted?
Delisted shares refer to the shares of a listed company that have been removed from the stock exchange permanently for buying and selling purposes. That means delisted shares will no longer be traded on the stock exchanges – National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
What happened to Essar Oil shares?
On Wednesday, the Ruias successfully delisted their flagship energy company Essar Oil, creating the largest corporate privatisation in India so far, by valuing the company at ₹38,000 core. To complete the process, Essar Oil will pay ₹3,745 crore to shareholders who tendered their shares.
How does a stock get delisted?
Delisting is the removal of a listed security from a stock exchange. The delisting of a security can be voluntary or involuntary and usually results when a company ceases operations, declares bankruptcy, merges, does not meet listing requirements, or seeks to become private.
Is Essar Oil listed?
Stock not traded in NSE.
Who is owner of Essar Oil?
Founder. Shashi Ruia, a first-generation entrepreneur industrialist, has made invaluable contributions to the core industrial and infrastructure sectors in India and has steered Essar to a prominent position in the global industry.
What is the new name of Essar Oil?
Essar Oil has since been renamed as Nayara Energy.
How do I sell OTC stock?
If you go with a real-world full-service brokerage, you can buy and sell OTC stocks. The broker will place the order with the market maker for the stock you want to buy or sell. Bid and ask quotes can be monitored constantly through the Over-the-Counter Bulletin Board (OTCBB).
What is the delisting price of Essar Oil?
Essar Oil’s delisting price of `262.80 per share marks an 80\% premium to the floor price of Rs146.05 Mumbai: Essar Oil Ltd, which runs India’s second biggest private sector refinery at Vadinar in Gujarat on Wednesday said it has completed the process of delisting from the stock exchanges.
What is the price of Essar Oil shares after Rosneft takeover?
The company has announced delisting of its share from the exchange after its takeover by Rosneft and set a floor price of Rs 146.05, but at the time the final discovered price came, Oil Bidco ( Mauritius ), the promoter of Essar Oil, agreed to pay Rs 262.80 a share, an 80 per cent premium to the floor price.
Who is Essar Energy Holdings Limited?
Essar Energy Holdings Limited, Mauritius, an indirect subsidiary of EGFL, is a global investor, owning world-class oil & gas assets which includes Stanlow refinery in the UK and oil and gas blocks in India, Indonesia, Nigeria, Madagascar and Vietnam.
How did obml shareholders tender their shares under delisting regulations?
The shareholders tendered their shares through the reverse book building window made available to them under the delisting regulations. While the floor price for the delisting was set at Rs 146.05 per share in accordance with a SEBI-mandated formula, OBML agreed to pay Rs 262.80 per share, which was a premium of 80\% over the SEBI mandated formula.