Essar Oil Ltd has announced the completion of company’s delisting from the local stock exchanges after a payout of Rs 3,745 crore to shareholders.

The company said in a statement that “Oil Bidco (Mauritius) Ltd, promoter of Essar Oil (EOL), is pleased to announce the successful completion of EOL’s delisting offer process, which has emerged as the largest privatisation bid in the history of corporate India, valuing EOL at Rs 38,000 crore of market capitalisation.”

“The Rs 3,745 crore that will be paid to shareholders makes this the largest payout to privatise a publicly-listed company in India,” the statement said further.

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