Essar Shipping subsidiary to boost stake in parent company

Essar Shipping Mauritius Holdings Limited, a promoter group entity, announced its intention to acquire 21,406,365 equity shares, representing 10.34% of Essar Shipping Limited's share capital. This "inter-se" transfer will be from IDH International Drilling Holdco Limited, also part of the promoter group, at a price of INR 25.91 per share. The acquisition is exempt under SEBI regulations for transfers among qualifying persons.

The acquisition is expected to occur anytime after four working days from the intimation date of September 19, 2025. Following the proposed transaction, Essar Shipping Mauritius Holdings Limited's stake in Essar Shipping Limited will increase from 60.09% to 70.43%. Imperial Consultants and Securities Private Limited, another promoter group entity, will maintain its 3.32% stake.

This strategic internal transfer consolidates ownership within the promoter group, with IDH International Drilling Holdco Limited's stake reducing to 0% after the transaction. The acquirer confirmed that all conditions for exemption have been met and that the acquisition price will not exceed 25% above the computed price of INR 25.91.