Essar Shipping Ports and Logistics (ESPL) may be delisted in coming days as the promoters are believed to be looking at acquiring the stake of minority shareholders and further delist the company.
Though there is no official comment available from the company, a person familiar with the development said that the promoters may raise around Rs 500-700 crore to buy out minority shareholders and the current valuations are very attractive for buyout.
ESPL is currently in the process of expanding the capacity of its its Vadinar Oil Terminal at a cost of Rs 900 crore, the project is scheduled to be completed by June next year.