Essar Oil board approves delisting from BSE and NSE
Jun 23 2014 , Mumbai
Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.
The move is part of Essar Oil's plans to take the energy business of Essar Energy Plc private to provide increased financial flexibility to support its business needs.
On Friday, the company said the delisting would take place after its founders buy the 27.5 percent of Essar Oil that is owned by public shareholders.