Please let me know when Essar Steel Ltd will relist its shares
ESL has a current capacity of 8.6 million tonnes which they plan to raise to 14 mt by 2011-12. The ultimatum aim is to take the groups combined steel making capacity to 25 mt. ESL had also purchased Shree Precoated Steels Ltd, a 1.2-mt downstream steel rolling and galvanising plant, for Rs 900 crore. Essar Global, owned by group chairman Shashi Ruia and his younger brother, vice-chairman Ravi Ruia, owns 93 per cent of ESL after they bought back shares from other shareholders in 2007. Public shareholders who did not subscribe to the two buy-back offers own seven per cent in the company.
"A relisting cannot be ruled out. It may not be immediate, but these are the first definitive signals towards that. It can be in the LSE (London Stock Exchange) or ...more