NSE to suspend trading in Essar Oil from February 10

MUMBAI: Top stock exchange NSE has decided to suspend trading in securities of Essar Oil from February 10 on account of the company delisting from the bourses.

Last month Essar Oil had completed delisting process from the stock exchanges after a payout of Rs 3,745 crore to shareholders, the largest in India's corporate history.

"It is hereby notified that the security (Essar Oil) will be suspended from trading with effect from February 10, 2016 (i.e. closing hours of trading on February 9, 2016)," the National Stock Exchange said in a notice today.

"Further the admission to dealings in the security shall be withdrawn (delisted) with effect from February 17, 2016."

The Essar Oil stock has seen sustained and significant growth since its IPO in 1995.

While the company's market capitalisation stood at just Rs 2,000 crore in 1995, it was worth over Rs 38,000 crore at the delisting price.

Over the years, Essar Group, through privatisation of its corporate entities Essar Oil, Essar Ports, Essar Steel and India Securities, has made a payout of over Rs 7,200 crore to investors, thus providing substantial returns.