Essar Group completes Rs 891-cr fund disbursement to Essar Oil shareholders

Total payout to public shareholders has increased from Rs 3,064 crore (at the time of delisting) to Rs 3,955 crore

Essar Energy on Tuesday announced it had completed an additional payout of Rs 891 crore to Essar Oil’s public shareholders. The payout was due to shareholders on account of the sale of Essar Oil’s assets to a Rosneft-led consortium in August this year.

“Essar Energy Holdings (EEHL) and Oil Bidco (OBML), both incorporated and managed under the laws of Mauritius, on 11 December 2017 disbursed Rs 891 crores to erstwhile public shareholders of Essar Oil. This translates to a price of Rs 76.41 per share,” Essar group said in a statement today. 

In August, Essar Group completed Rs 86,000 crore-deal