Nayara Energy to make buyback offer to minority shareholders

Nayara Energy Announces ₹731/Share Buyback for Minority Shareholders.

Expert Analysis :

• Delisting History: Formerly Essar Oil, the company was delisted from BSE and NSE on February 17, 2016.

• Buyback Offer: On March 3, 2025, Nayara Energy’s Board approved a buyback of 2,59,08,262 shares at ₹731 per share to offer minority shareholders an exit.

• Delisting Process: The erstwhile promoter acquired shares from public shareholders through reverse book building and an exit offer from February 2016 to February 2017.

• Remaining Shareholders: Over 2 lakh retail shareholders still hold shares as they did not participate in the delisting or exit offer.

• Liquidity Issue: Minority shareholders, unable to trade their shares, have repeatedly requested an exit opportunity from the company.

• Buyback Pricing: An independent valuation set the buyback price at ₹731 per share, with the schedule and Letter of Offer to be finalized soon.

• Ownership Change: In 2017, Rosneft, Trafigura, and UCP acquired Essar Oil for $12.9 billion, renaming it Nayara Energy.