The Ruias-controlled Essar Ports Ltd will cease to exist as a publicly traded company as its promoters have successfully delisted the firm. JM Financial Institutional Ltd, manager to the delisting process, said that the delisting offer would be deemed to be successful. The delisting price was fixed at Rs.133 a share.
Essar Ports, one of the largest private sector port companies in India by capacity and cargo traffic, had originally fixed the delisting price at Rs.90.50 and later revised it to Rs.93.50.
However, that price was again revised to Rs.133 last week.