Nayara Energy to make buyback offer to minority shareholders
Nayara Energy announced a buyback offer for its minority shareholders to purchase over 2.59 crore shares at Rs 731 each, providing an exit opportunity for shareholders unable to trade since delisting in 2016. This follows frequent shareholder requests for liquidity.
Nayara Energy was previously known as Essar Oil . It was listed on BSE and NSE. The equity shares were voluntarily delisted from both stock exchanges with effect from February 17, 2016.
"The Board of Directors of Nayara Energy on March 3, 2025 decided to make an offer to its minority shareholders to buy back 2,59,08,262 shares at Rs 731 per share with an objective to provide an exit opportunity to the minority shareholders," the firm said in a statement.
Erstwhile promoter entity acquired equity shares from non-promoter public shareholders during the delisting process, which was conducted through reverse book building on stock exchange and subsequently via an exit offer for one-year period from February 2016 to February 2017.
However, over 2 lakh retail shareholders, who did not participate in the delisting and subsequent exit offer provided to them, continue to hold shares in the company.
"Since the equity shares of the company are not traded on any of the stock exchanges, the minority shareholders are not able to liquidate or monetize their shareholding.
Minority shareholders have been frequently approaching the company requesting an exit opportunity be provided to them," the statement said.
Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Technology Certified Jenkins Professional By - Vskills, India's Leading Certification Body View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Marketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Following this, the Board of Directors decided to make a buyback offer to the minority shareholders.
"Based on a valuation exercise conducted by an independent registered valuer, the offer would be made at a price of Rs 731 per share," it said.
"The company would shortly be finalising the schedule for the buyback program and issuing the Letter of Offer to its minority shareholders.
" In 2017, Russia's Rosneft and a consortium of Trafigura and UCP Investment Group acquired Essar Oil for USD 12.9 billion.
The firm was later rechristened Nayara Energy.
