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Nayara plans buyback offer for minority shareholders
Business Standard
|March 07, 2025
Nayara Energy, which operates India's second-largest single-site refinery in Vadinar, Gujarat, has decided to make a buyback offer to its minority shareholders, with an intent to give them an exit opportunity.
The private refiner, which is backed by Russian oil major Rosneft, on Thursday said that its board of directors has decided to offer a buy-back for 2,59,08,262 shares at ₹731 apiece totalling about ₹19 billion. These shares were once listed on the BSE and NSE as those of Essar Oil. But were voluntarily delisted from both the stock exchanges in February, 2016, by erstwhile promoters Essar Group at ₹262.80 per unit.
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