Essar Steel Delisting Offer Price Fixed

Essar Steel Holdings Limited has fixed the delisting price of Essar Steel Limited. The Essar Steel delisting price which was determined by the reverse book building process where shareholders bid on the delsiting price is Rs. 48 per share of face value Rs 10 each. This announcement was made by Edelweiss Capital Limited which is the Manager to the Delisting Offer. The minority shareholders of Essar Steel Limited have two options. They can choose to surrender their shares to Essar Steel Holdings Limited for Rs. 48 per share or they can choose to hold on to the shares of Essar Steel Limited, which will be delisted and hence not traded on the stock exchanges. The risk with choosing the latter option is the lack of liquidity after delisting. Shareholders might not be able to sell the shares of Essar Steel Limited at all and may be struck with them for eternity. However, these shareholders will continue to enjoy all shareholder rights such as voting rights and right to receive dividend along with other benefits arising from various corporate actions of Essar Steel Limited.

163 thoughts on “Essar Steel Delisting Offer Price Fixed”

  1. It is reported that Essar Steel has fixed Rs 48 as delisting price. Is it in respect of Equity shares or Eq and pref shares both. Also is it open to investors who have bid or to all the minority share holders. Pl advise.

  2. My Father bought about 200 shares for abt 120 per share 7 years back, while at the same time other shares had yeilded a profit, this stupid company is in loss.

    what shall i do now? keep the shares or delist??????

  3. Hi,
    I am holding 65 shares of Essar Steel Limited(Non-Demat).I would like to surrender as per the delisting formalities.Kindly let me know to whom the share certificate should be sent to receive the value….

    Regards,
    N.Ramachandran

  4. I have bought 2000 shares of essar steel and now company is doinng delisting so how long time i can not sell my shares and what is loss and profit from this delisting to me, my purchase price is 65 Rs/ per share.Pls tell me soon.

    Devinder

  5. If the Essar Steel Management gets into a strategy of doing this move (of delisting) then they are supposed to let the people aware of this well in advance, also an intimation to all the existing stock holders. It doesnt matter how much % the promoters themselves are holding, but there should be enough time taken to make this decision. This happened within a very short duration leaving investors in a troubled situation.

  6. I have purchased 100 shares of Essar Steel on last day of trding day i.e Thursday 13th Dec 2007 and the Shares are receivable in my Demat. Now company has announce delisting so how can I get my money back by selling of these shares. Pls help me to exlain the flow..

    Thanks

  7. I have puschased 4000 essar steel shares through ICICI direct. How do I sell these share. if I do not weant to hold on to them. I purchased these shares last week and did not know about the delsiting as it was available in the trading. The share are also not yet listed in my ICICI direct after purchasing.

    Rgds VN Rajender

  8. i am having 75 shares of essar, which i taken on 13th dec at the rate 52 rupees. as These share will be delisting and my portfollio shows the rate of these share as 11.80 rupees, means what ?

    If i want to sell these what can i do/

  9. Hi All,

    I bought 200 shares of ESSAR STEEL thru DEMAT A/C with ICICIDirect.com. Company was delisted now. How to sell these shares, please help me out from this situtation.

  10. Dear traders,
    don’t worry the share has already delisted from the markets and what ever the price they specified i.e 48/sahre will be refunded to you by the company.but it will take some time to credit in your a/c s and to send cheques to you your addresses.but at the price of 48 only.but it takes time for other details contact your broker.

    FEEL CONFIDENT.

  11. is it necessary to sell essar steel shares?? is there any chance of listing again?? if not then how can i get refund of 500 shares which i took through indiabulls at rate of 64 per share

  12. I HAVE 800 SHARES OF ESSAR STEEL.SO NOW WHAT IS THE PROSSES TO GET MY MONEY BACK ON THE DE LIST PRICE.
    AND IN FUTURE HOW MUCH POSSIBILITY OF LISTING OF ESSAR STEEL.WHAT IS GOOD TO SELL THIS SHARES OR HOLD ON ……..
    PLEASE TELL ME

    AMIT GOEL

  13. I purchased 1800 shares from M/s. Essar Steel Ltd. @ Rs. 60.30 on 12/12/07 and 1300 shares from same company @ Rs. 51.75. Hence, total investment is Rs. 175815.00. Now M/s. Essar steel is going for delisting. I want to sell the shares. what step should I take further? Please advise me.

  14. I HAVE 100 SHARES OF ESSAR STEEL.SO NOW WHAT IS THE PROSSES TO GET MY MONEY BACK ON THE DE LIST PRICE.
    AND IN FUTURE HOW MUCH POSSIBILITY OF LISTING OF ESSAR STEEL.WHAT IS GOOD TO SELL THIS SHARES OR HOLD ON ……..
    PLEASE TELL ME

  15. Sir,
    I,ve 200 essar steel share, purchased at rate of 57/ per share. Now company is delisting. Please advise how and where i can sell my share and to whom I should contact to sell these share
    Rana b s

  16. I bought 500 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

  17. Hi,

    I have purchased Essar steel 100 share, after delisted I am not able to sale the same.
    Please confirm how can I sale to the same.
    Pls confirm the procedure of holding quantity

    Regards,
    Manoj Kumar
    09811914190

  18. Hi,

    I have purchased 200 shares of Essar steel.I got each share for 66.00 and the company announces for delisting and not giving any response. so what should i do and how should i claim for this.

  19. Hi,

    I have purchased Essar steel 50 EQUITY and Pref. share, after delisted I am not able to sale the same.
    Please confirm how can I sale to the same.
    Pls confirm the procedure of holding quantity

    Regards,
    HARI MOHAN SRIVASTAVA
    LUCKNOW
    9839196606

  20. I bought 200 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

  21. I have 180 shares of essar steel in physical form. The company was delisted. Data software Res. co. Ltd sent me tender form only & they want a duly signed share trasfer form. they did’t sent any share trasfer form. Shall I send signed share trasfer form with the tender form or I can keep the share ? If i hold the share what will be the rest. Kindly advice me
    Regards,
    sreenath

  22. I have 700 shares of Essar Steel. Purchased initially through IPo @Rs40/share, and then through Rights @ Rs 70/share and later through secondary market. The company has not paid any dividend since last 10 years. When the market started improving, the company delisted the shares offering not an attractive price.
    The company has not sent any communication nor any advice on procedure for refund.
    What is to done?

  23. I HAVE PURCHASED 200 SHARES OF ESSAR STEEL LTD. AFTER DELISTING OF THE COMPANY I WANT TO SURRENDER THE SAME AND WANT TO MONEY BACK. PRESENTLY THE SHARES HELD WITH DEMAT A/C WITH ICICI DIRECT.COM. PLEASE INFORM ME THE PROCEDURE FOR THAT.

  24. I HAVE PURCHASE 200 SHARES OF ESSAR STEELS LTD. I WANT TO KNOW WHAT IS THE POSSIBILITY OF RE-LISTING OF THESE SHARES AND AT PRESENT WHAT IS THE BEST OPTION FOR SURRENDER OR HOLD THE SHARES.

  25. dear sir
    i brought 1000 shares in anagram share broker office after de-listed in your company. next
    each share value tell me. so i want money argent
    my mother health very serias, kindly give me sir.
    avramana
    chandanagar
    d.no.2-32/1/1
    hyderabad
    andhrapradesh

  26. I have purchased 1000 equity shares of Essar Steel Reg. Folio No. DPID No.Clients ID No. IN 30267933371615. Earlier I have not opted for D-Listing. What is the status now? Please advise me, if I want to sale them now what will be the procedure,

  27. I have 100 equity shares of Essar Steel through Indiainfoline . Earlier I have not opted for D-Listing. What is the status now? Please advise me, if I want to sale them now what will be the procedure

  28. I have 1000 shares of ESTL (EssarSteel Ltd.)
    After delisting….waht is the process to dispose of these shares andrealisethe value of the holdingsthereof..???

  29. Hi,

    I bought 100 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

    MANJUNATHA, BANGALORE, KARNATAKA STATE

  30. I bought 300 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

  31. i have recd a proposal for buyback of my 1300 shares of essar steel but in the proposal from data software reserach co pvt ltd but in the letter the DP ID mention is IN 30062-10020266 which is not proper i have shares with reliance money and with delivery slip i went there but they rejected telling me that it is not proper DP ID will u please help me out to give me correct dp id as early as possible as i have only 10 days and i received letter yesterday i.e. on 20-5-2008 and letter dated was 06-05-2008 i will be glad if u help me out immediately

    thanking you

    rajesh thakkar

  32. Dear Sir,
    I had perchased 250 equity shares of essar steel,at rate of Rs.68/- per share.Now I want to know, how I can get my money back?
    Reply me at earliest.
    Manash Mullick
    Vill- Hariharpur
    Hospitalpara
    P.o.- Mallickpur
    P.s.- Baruipur
    Kolkata- 700145
    West Bengal

  33. Dear Sir,
    I’m sorry,My previous letter has some mistakes.
    I had perchased 250 equity shares @Rs. 68/- per share.Now, I accept your delisting offer price(Rs.48/- per share). So, I want to get back the total money of Rs.12000/-.
    Pls, reply me at earliest.
    Thanking you.
    Manash Mullick
    Vill- Hariharpur
    Hospitalpara
    P.o.- Mallickpur
    P.s.- Baruipur
    Kolkata- 700145
    West Bengal

  34. I have 450 shares of Essar Steel. Purchased initially through IPo @Rs40/share, and then through Rights @ Rs 70/share and later through secondary market.& 250 no: (0.01% Cumulative Redeemable Preference Shares )(Series – P1) ofEssar Steel Limited shall be suspended When the market started improving, the company delisted the shares offering not an attractive price.
    The company has not sent any communication nor any advice on procedure for refund.
    What is to done?

    SURENDRA KUMAR AGGARWAL
    C-6 /194, YAMUNA VIHAR DELHI-53
    PH 9818624710
    EMAIL ID Surendra_agr@yahoo.com & surendra.aggarwal@motherdairy.com

  35. I bought 150 shares of Essar Steel. Now how I will get my invested money back & at what rate.What is the procedure to sell these shares to Essar Steel Holdings Limited.

  36. dear sir
    i accept delisting share value rs 48/- my total
    shares 1000 kindly send me amount.
    my address
    ANUSURI VENKATARAMANA
    HOUSE NO: 2-32/1/1
    CHANDANAGAR
    HYDERABAD-50

  37. I am having 700 shares of ESSAR STEEL and now the company is going for delisting and fixed the rate of per share is Rs.48/- . What is the procedure if I will go the refund and also suggest if I will not take the refund now .

  38. sir as a stock broker we are holding 38,000 shares of Essar steel on belaf of our client now we come to know that there is buy back offer and the last date is 30/06/2008. now let us know, what we suppose to do at the last moment? please forward me the form for buy back. we have not received any kind of communication from ur end. This is not to be done in such a organisation.

    please do the needful as soon as possible.

    jayesh
    9820108533
    jayesh.khalasi@ventura1.com
    67217097/67217133

  39. I have 450 shares of Essar Steel. Purchased initially through IPo @Rs40/share, and then through Rights @ Rs 70/share and later through secondary market.& 250 no: (0.01% Cumulative Redeemable Preference Shares )(Series – P1) ofEssar Steel Limited shall be suspended When the market started improving, the company delisted the shares offering not an attractive price.
    The company has not sent any communication nor any advice on procedure for refund.
    What is to done?

  40. I bought 100 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

  41. hi,

    i am having 1000 shares of essar still. is exit option is over or we can exit from essar now. pls suggest i wanted to exit from those shares

    pls help me out.

    Regards
    Rakesh Darak

  42. I purchased 100 shares of essar steel just before its delisting at the rate of Rs. 76/- per share but was not aware of the delisting news till now. Now when I contacted to my broker regarding sale of share he told me the the delisting story. I want my money back whether it is Rs. 48/- or so and dont want to retain delisted share. Kindly advise me to whom I approach for getting the money back. The shares are lying in demate account.

    Manju Khanna
    Mob 09410702002

  43. Hello sir,

    I have 100 share of Essar Steel…I want to sell this share…Plz tell how is it…and whats future of this share can this share listed 2nd time?……….

  44. I have purchased 200 shares of essar steel. I want to know when this share will be relist in nse or bse. I also want to limit of delisting period according to SEBI rules.
    From- Sunil Puri Amritsar

  45. When it is relisted, you will get attractive return. So, pls wait till such period. Myself is also having 1450 shares @ Rs.70/share.

  46. In abroad, Essar Steel done more acquisitions. They have acquired maximum equity shares from the institutions and / or public. When their position becomes strong, they will relist the shares. Public, who are holding the shares, will also benefit at the time of relisting. Wait till the market improves. definitely, they will relist with attractive share price.

  47. If essar steel acquired shares will have any value, the investors share will also have the same value at the time of relisting. So, wait. Once they have to relist the shares. Anyone will not be in loss. Wait and wait.

  48. I am holding 240 shares of essar steel..Request you to confirm the process for encashing after surrendering these shares to the company..

    Looking forward to receiving a reply soon

    Thanks & Regards,

    N.G.RAGHUNATH

  49. hi
    I purchased 100 shares of essar steel just before its delisting at the rate of Rs. 67/- per share but was not aware of the delisting news till now. Now when I contacted to my broker regarding sale of share he told me the the delisting story. I want my money back whether it is Rs. 48/- or so and dont want to retain delisted share. Kindly advise me to whom I approach for getting the money back. The shares are lying in demate account

    shyam sharma

  50. I have 100 Share at the price of Rs. 69/- of Essar Steel. So please let me know when he is Re listed or if no re listed so how can i collect my money of 100 Share.

  51. I bought 200 shares of Essar Steel. Now how I will get my invested money back & at what rate.
    What is the procedure to sell these shares to Essar Steel Holdings Limited.

  52. I have 300 share Essar Steel But i dont know how to sell it can anybody give the suggetion to sold it, or who is responcible for it.
    Pls send the suggetion on my mail.

  53. as a stock broker we are holding 1500 shares of Essar steel on belaf of our client now we come to know that there is buy back offer and the last date is 30/06/2008. now let us know, what we suppose to do at the last moment? please forward me the form for buy back. we have not received any kind of communication from ur end. This is not to be done in such a organisation.

    please do the needful as soon as possible.

    Nitin J. rodrigues
    Mob-9822072779

  54. I have purchased 300 shares of essar steel on 2007 @ 70/- pershare,now since the shares are delisted .Kindly advice me for getting the money back.

    Mannoo lal Rathore
    Mob-09993000826

  55. Sub : Buyers Of Unquoted / Non Listed Shares

    Dear Sir,

    We introduce ourselves as leading investment consultants and have started dealing in Unquoted / Non Traded Shares. We have been able to provide you very attractive prices of shares which are not quoted and traded in stock markets and which peoples find very difficult to off load.

    So if you are interested to sell such type of your holding Please intimate us the details of the shares held by you so that our executive will come there and collect the said shares and will provide Best Price for your holding. You are requested to respond immediately to take advantage of.

    We will be glad to be of Service to you if you wish to sell any Unquoted, Lesser Traded, Non Listed or Rarely Traded Investments. Kindly send us your list of Physical, Unquoted Shares and we will send you our best offer for your consideration.

    Kindly check our best offer before selling your shares to any others.

    We look forward to your Immediate Reply.

    Thanking You,

    Yours Faithfully,
    For Gandhi Associates,

    Authorized Executive
    Gandhi Vipul
    M : 093755 77007
    E-mail : unquotedshares@yahoo.com

  56. i have 850 shares of essar steel iwant to know when it is going to get relisted on stock exchange.is essar security an demerged entity of essar steel?if yes then wats the swap ratio

  57. But why are they(Essar stee) delisting it?? The company is doing well and they are good market base and the PE ratio of 9.47 with EPS @ Rs.5.47. In addition Essar Group is one among those companies who have outperformed in 1990′s.
    So why the management has to take backfoot by delisting the shares.

    In the current scenario when the industry is heading towards growth why should’nt the management think of revising their stratergy.

    Regards,
    Kiran

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