Essar Shipping to delist shares

The delisting of equity shares will offer more flexibility in the operations and management of the company, greater efficiencies and at the same time provide an exit opportunity for the shareholders of the Essar Shipping.

Essar said it would de-list shares from the Bombay Stock Exchange by following the voluntary delisting method. After obtaining the consent of the shareholders, a public announcement will be made in accordance with the Sebi (Delisting of Securities) Guidelines, 2003 for ascertaining the exit price to be paid to the shareholders.