Essar Steel (Delisted) share news and announcements

BSE: 500627

Last traded ₹51.80 on 13 Dec 2007

Delisted on 14 Dec 2007.

Last results date

The last board meeting held for results; the company has not yet given notice of the next.Essar Steel quarterly results

Oct31Wed

The board met on 31 Oct 2007 to consider financial results and others

Notice filed 23 Oct 2007

To interalia, consider the following: 1) Financial results of the company for the quarter ended September 30, 2007. 2) Premature Redemption of 20,29,24,832 0.01% Cumulative Redeemable Preference Shares of Rs.10/- each.

Essar Steel annual reports, presentations and earnings calls

The company's own documents, latest first.

Annual reports19

14 earlier reports

Essar Steel share news and announcements

31 announcements, routine notices left out, newest first.

  1. Dec 2007

    • 24 Dec · Suspension of Preference Shares

      Members of the Exchange are hereby informed that the trading in the 0.01% Cumulative Redeemable Preference Shares (Series - P1) of Essar Steel Limited shall be suspended w.e.f. December 28, 2007 (i.e. closing hours of trading on December 27, 2007) on account of premature redemption.

    • 19 Dec · Corporate action

      The Company has fixed 4th January, 2008 as the Record Date for determining the names of shareholders who shall be entitled to receive the redemption proceeds of 0.01% Cumulative Redeemable Preference Shares of Rs.10/- each. The company has already obtained approval from the members through postal ballot on December 15, 2007 for premature redemption of these preference shares of Rs.10/- each at a premium of Rs.2.50 per share(viz. Rs.12.50 per share)

    • 17 Dec · Results

      Essar Steel Limited had informed the Exchange regarding the dispatch postal ballot form in relation to Special Resolution given in the postal ballot notice dated October 31, 2007. The Company has now informed the Exchange that the Postal Ballot forms were received till the closure of the working hours of December 13, 2007. The scrutiniser, Shri T V Visweswara Rao, submitted his report to the Chairman appointed for the postal ballot process. Outcome of the postal ballot has been announced on December 15, 2007. As per the announcement, the special resolution has been passed with requisite majority. Accordingly, consent of the 0.01% Cumulative Redeemable Preference Shareholders & Equity Shareholders has been obtained for Premature redemption of 0.01% Cumulative Redeemable Preference Shares of Rs.10/- each at a premium of Rs.2.50 per share (viz. Rs.12.50 per share).

    • 12 Dec · Suspension and Delisting of trading in equity shares

      Members are requested to refer to the broadcast message dated December 5, 2007 of Essar Steel Limited (Symbol: ESTL) regarding suspension of trading in the equity shares of Essar Steel Limited w.e.f December 7, 2007 (i.e. w.e.f. closing hours of trading on December 6, 2007) and subsequent withdrawal of admission to dealings (delisting) in securities of the said company w.e.f. December 14, 2007 being kept in abeyance until further notice. Members are hereby informed that the trading in equity shares (Series - EQ/BL) of Essar Steel Limited (Symbol: ESTL) shall be suspended w.e.f December 14, 2007 (i.e. w.e.f. closing hours of trading on December 13, 2007) and admission to dealings in securities of the said company shall be withdrawn (delisted) w.e.f. December 24, 2007. This decision is being taken pursuant to the order passed today i.e on December 12, 2007 by the Hon'ble Securities Apellate Tribunal (SAT) vacating the earlier interim order passed by SAT on December 5, 2007.

    • 5 Dec · Suspension/Delisting kept in abeyance

      Members are requested to refer to the broadcast message dated November 23, 2007 of Essar Steel Limited (Symbol: ESTL) regarding suspension of trading in the equity shares of Essar Steel Limited w.e.f December 7, 2007 (i.e. w.e.f. closing hours of trading on December 6, 2007) and subsequent withdrawal of admission to dealings (delisting) in securities of the said company w.e.f. December 14, 2007 on account of voluntary delisting pursuant to the SEBI (Delisting of Securities) Guidelines, 2003. Members may note that the same is being kept in abeyance until further notice. This decision is being taken pursuant to interim order passed today i.e. on December 5, 2007 by Hon ble Securities Appellate Tribunal (SAT). Therefore, Members may note that trading in the equity shares of Essar Steel Limited will continue until further notice.

  2. Nov 2007

    • 23 Nov · Suspension and Delisting of trading in equity shares

      Members of the Exchange are hereby informed that the trading in the equity shares of Essar Steel Limited shall be suspended w.e.f. December 7, 2007 (i.e. w.e.f. closing hours of trading on December 6, 2007) on account of voluntary delisting pursuant to the SEBI (Delisting of Securities) Guidelines, 2003. The admission to dealings in securities of the said company shall be withdrawn (delisted) w.e.f. December 14, 2007.

    • 23 Nov · Delisting of shares

      After the delisting of the equity shares from Stock Exchanges the Company will receive and process investors' correspondence at the address as given in the attachment. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 16 Nov · Meeting

      Pursuant to section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001 to transact the following special resolution through postal ballot: Special Resolution for premature redemption of 0.01% Cumulative Redeemable Preference Shares of Rs. 10/- each at a premium of Rs. 2.50 per share (viz. Rs. 12.50 per share). The Board of Directors of the Company at its meeting held on October 31, 2007 has appointed Shri. T N V Visweswara Rao, Chartered Accountants as the Scrutinizer for conducting the Postal Ballot in a fair and transparent manner. The duly completed postal ballot form should reach the Scrutinizer not later than the close of working hours on December 13, 2007. The Scrutinizer will submit his report to Chairman or Director or Company Secretary after the completion of scrutiny and the results of the postal ballot will be announced on December 15, 2007. A copy of the Postal Ballot notice shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 16 Nov · Legal

      Vide its letter dated November 16, 2007 that: "The equity shares of the Company have attracted significant trading over last couple of days. The economic Times, Mumbai carried an articles on 15.11.2007 titled "Essar Oil Promoters to hike stake" wherein it has been mentioned that The Essar Group has tried to delist two other listed companies - Essar Shipping and Essar Steel earlier this year without much success" Attention of the investors is drawn to following facts. 1) The reverse book building process under the delisting offer has already been completed and the discovered price is Rs.48/- per equity share. 2) The entire process has been carried out in compliance with the relevant SEBI Laws and Stock Exchange Guidelines. 3) The Company has already applied for to BSE and NSE for delisting of the equity shares. 4) Upon receipt of approval for delisting the shares will not be available for trading on the both the stock exchanges. 5) As required under SEBI Delisting Guidelines Promoters of the Company will continue to buy shares from the members for a period of six months at the discovered price of Rs.48 per equity share after the delisting approval".

  3. Oct 2007

    • 23 Oct · Board meeting

      To interalia, consider the following: 1) Financial results of the company for the quarter ended September 30, 2007. 2) Premature Redemption of 20,29,24,832 0.01% Cumulative Redeemable Preference Shares of Rs.10/- each.

    • 16 Oct · Meeting

      Proceedings of the Annual General Meeting of the Company held on September 28, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 5 Oct · Delisting offer

      Edelweiss Capital Limited, Managers to the Delisting Offer of Essar Steel Limited, hereby informed the exchange on behalf of Essar Steel Holdings Limited the Acquirer to the proposed delisting offer of Essar Steel Limited (ESL) that "Price discovered as per the Delisting Guidelines ("Discovered Price") is Rs.48/- per equity share of ESL, at which the maximum number of equity shares have been tendered under the book-building process. The Acquirer accepts the Discovered Price of Rs.48/- per equity share and has decided to offer the Discovered Price as the price for acquisition of the equity shares ("Exit Price"). Consequently the Acquirer shall accept all the bids at or below the Exit Price and the Shareholders who have tendered their equity shares at or below the Exit Price will be paid the consideration at the Exit price of Rs.48/- per equity share".

  4. Sep 2007

    • 28 Sep · Delisting of shares

      The company has been informed by the Promoters (Essar Steel Holdings Ltd., Mauritius) that they have extended the Bid period of the Delisting offer of the Equity Shares of the Company to close on Wednesday, 3rd October 2007. Accordingly, the Bid Period will now close on Wednesday, 3rd October, 2007 instead of 28th September, 2007

    • 11 Sep · Public Announcement - Delisting

      Public announcement ("PA") being issued by Essar Steel Holdings Limited (the "Acquirer"), which is a closely held public company, forming part of the Essar Group, Promoted by Ruia family, in respect of the proposed acquisition and delisting of the equity shares of Essar Steel Limited (the "Company") in accordance with the SEBI (Delisting of Securities) Guidelines, 2003 (the "Guidelines") issued by the Securities and Exchange Board of India ("SEBI"). Background of the Offer: The Company has an issued, subscribed and paid-up Equity capital of Rs.11,398.1 Million ("Equity Share Capital") comprising of 1,139,810,888 fully paid up equity shares of Rs.10/- ("Equity Shares") each. The Persons Acting in Concert ("PAC") with the Acquirer are: Essar Investments Limited, Essar Power Limited, Teletech Investments (India) Limited, ETHL Global Capital Limited, Essar Logistics Holdings Limited, Asia Pacific Corporation Limited, Asia Pacific Enterprise Limited, Asia Pacific Far East Limited, Essar Power Holdings Limited, Essar Infrastructure Holdings Limited, Essar Energy Holdings Limited, Asia Pacific Markets Limited and Essar Global Limited (hereinafter collectively referred as the "Promoter Group"). The Promoter Group holds 992,570,167 Equity Shares of the Company comprising 87.08% of the Equity Share Capital. The Acquirer proposes to acquire all outstanding Equity Shares currently not held by the Promoter group being 147,240,721 Equity Shares comprising of 12.92% of the Equity Share Capital (the "Offer Shares") in accordance with the PA (the "Offer"). Consequent to the Offer, Essar Steel Limited and the Promoter group will seek to voluntarily delist the Equity Shares from the Bombay Stock Exchange Limited ("BSE") and The National Stock Exchange of India Limited ("NSE"), (herein collectively referred as the "Stock Exchanges") where the Equity Shares are currently listed. The floor price (the "Floor Price") for the reverse book-building process as stipulated by the Guidelines ("RBB") has been computed as Rs.38. The Bid Opening Date is September 24, 2007 and the Bid Closing Date is September 28, 2007. A copy of the Public Announcement shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 4 Sep · Meeting

      The Register of Members of the Company will remain closed from Thursday, September 27, 2007 to Friday, September 28, 2007 (both days inclusive) for the purpose of determining the members on the date of the Annual General Meeting of the company, to be held on Friday, September 28, 2007

  5. Aug 2007

    • 28 Aug · Limited Review Report

      Auditor's have conducted the limited review of the un-audited financial results for the quarter ended June 30, 2007. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  6. Jul 2007

    • 23 Jul · Board meeting

      To Interalia, consider the Financial results of the company for the quarter ended June 30, 2007.

  7. Jun 2007

    • 19 Jun · Board meeting

      To interalia, consider the Audited Financial results of the company for the year ended March 31, 2007.

  8. Apr 2007

    • 24 Apr · Proceedings

      Proceedings of the announcement of Postal Ballot Results on March 21, 2007. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 23 Apr · Results

      Company shall publish Audited Financial Results within a period of 3 month for the year ended on March 31, 2007 i.e. on or before June 30, 2007.

    • 20 Apr · Miscellaneous

      The Hon ble High Court of Gujarat has passed an order pursuant to provisions of section 102(1) of the Companies Act, 1956 on April 04, 2007 confirming the Special Resolution passed by the members of the Company at the Annual General Meeting held on September 30, 2006 in connection with adjustment of One time Recompense Charges and Prepaid Power Charges against the credit balance standing in Securities Premium Account

    • 20 Apr · Results

      Proceedings of the announcement of Postal Ballot Results on March 21, 2007. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  9. Mar 2007

    • 26 Mar · Disclosure

      Essar Global Limited propose to acquire 100% equity shares of Asia Pacific Markets Limited who are holding 8,19,58,123 equity shares representing 7.19% of the total equity share capital of the Company (Essar Steel Limited). The mode of proposed acquisition is by way of interse transfer between group companies by way of indirect acquisition and the date of proposed acquisition is March 30, 2007. The proposed acquisition price per share is as per previous days closing price from the date of proposed acquisition. The shareholding of Essar Global Limited after the proposed acquisition would be 100 shares aggregating to 0.00% of the shares/voting rights of Essar Steel Limited. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 21 Mar · Results

      Essar Steel Limited had informed the Exchange regarding the dispatch of a postal ballot form in relation to the Special Resolution given in the postal ballot notice dated 29th January, 2007. The company has now informed the Exchange that: "The Postal Ballot forms were received till the closure of the working hours of 17th March, 2007. The scrutiniser, Shri T N V Visweswara Rao, submitted his report and the Chairman appointed for the postal ballot process announced the outcome of the postal ballot today the 21st March, 2007 at the Registered Office of the Company at 27 KM, Surat Hazira Road, Dist Surat, Gujarat 394270. The Chairman announced that the special resolution has been passed with requisite majority. Accordingly, consent of the equity shareholders has been obtained for delisting the equity shares of the Company from Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd in terms of SEBI (Delisting of Securities) Guidelines, 2003".

    • 12 Mar · Limited Review Report

      Auditor's have conducted the limited review of the unaudited financial results for the quarter ended December 31, 2006. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  10. Feb 2007

    • 13 Feb · Meeting

      Pursuant to section 192A of the Companies Act, 1956 read with The Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 the following special resolution is to be passed by the members of the company through postal ballot: Special Resolution pursuant to provisions of SEBI (Delisting of Securities) Guidelines, 2003 for voluntary delisting of company's equity shares from Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. set out in the Notice dated January 29,2007. The Board of Directors at its meeting held on January 29,2007 has appointed Shri T N V Visweswara Rao, Chartered Accountant as the Scrutinizer for conducting the Postal Ballot in a fair and transparent manner. The duly completed postal ballot form should reach the Scrutinizer on or before March 17,2007. The results of the postal ballot will be announced on March 21,2007. A copy of the postal ballot shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

  11. Jan 2007

    • 30 Jan · Delisting of shares

      The Board at its meeting held on January 29, 2007 has decided to obtain the consent of shareholders to delist the Equity Shares of the Company from Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd in terms of SEBI (Delisting of Securities) Guidelines 2003

    • 29 Jan · Management

      "The Board at its meeting held on January 29, 2007 have made the following appointments. 1) Shri Rewant Ruia has been re-appointed as an Additional Director of the Company. He will be Non-Independent, Non-Executive Director. 2) Shri V G Raghavan has resigned from the post of Director (Finance) of the Company with effect from 1st February, 2007. He however continues to be a member of the Board as Non Executive, Non-Independent Director. 3) Shri Robin Banerjee has been appointed as an Additional Director, designated as Director (Finance) with effect from 1st February, 2007. He shall be Executive, Non-Independent Director". Further, the details of the current composition of the Board of Directors of the company shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

    • 25 Jan · Delisting of shares

      We have received a letter dated January 25, 2007 from Essar Steel Holdings Limited ("ESHL") a major promoter shareholder of Essar Steel Limited intending to delist the shares of company from the Bombay Stock Exchange Limited and National Stock Exchange of India Limited. At present, ESHL together with Persons Acting in Concert (PAC) holds 992,586,994 equity shares aggregating to 87.08% of the total equity share capital of company. We have also been requested to convene a Board meeting of the Company to discuss the matter and obtain consent of equity shareholders for the proposed voluntary delisting of its equity shares in accordance with the SEBI (Delisting of Securities) Guidelines, 2003. Accordingly, at the Board meeting of the Company to be held on January 29, 2007 the above matter will also be considered.

    • 18 Jan · Board meeting

      Meeting on 29 Jan 2007: “Unaudited Financial Results for the quarter ended Dec 31, 06/Delisting of Shares/Others”

    • 10 Jan · Limited Review Report

      Auditor's have conducted the limited review of the unaudited financial results for the quarter ended September 30, 2006. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements). For more details click here.

Sharp moves

3 of the 6 shown had no filing that day or the next.

MoveAgainst the Nifty 500Times its usual moveVolume, times usualFilings

  • 6 Dec 20071 filingup 20.00%+20.0 pts vs Nifty 5004.7× its usual move · volume 1.1× usual
  • 4 Dec 2007No filing that day or the nextup 17.93%+17.3 pts vs Nifty 5005.1× its usual move · volume 4.8× usual
  • 16 Nov 20072 filingsdown 12.97%−13.3 pts vs Nifty 5004.2× its usual move · volume 27.2× usual
  • 15 Nov 20071 filingup 19.96%+19.5 pts vs Nifty 50010.7× its usual move · volume 4.9× usual
  • 14 Nov 2007No filing that day or the nextup 6.08%+2.2 pts vs Nifty 5003.4× its usual move · volume 40.0× usual
  • 30 Jul 2007No filing that day or the nextup 6.69%+6.7 pts vs Nifty 5003.7× its usual move · volume 1.8× usual