Nayara Energy To Make Buyback Offer To Minority Shareholders

New Delhi: Nayara Energy, India’s biggest private fuel retailer, will make an offer to minority shareholders to buy back 2.59 crore outstanding shares at Rs731 apiece, the firm said Thursday. Nayara Energy was previously known as Essar Oil. It was listed on BSE and NSE.

The equity shares were voluntarily delisted from both stock exchanges with effect from February 17, 2016.

“The Board of Directors of Nayara Energy on March 3, 2025, decided to make an offer to its minority shareholders to buy back 2,59,08,262 shares at Rs731 per share with an objective to provide an exit opportunity to the minority shareholders,” the firm said in a statement.

Erstwhile promoter entity acquired equity shares from non-promoter public shareholders during the delisting process, which was conducted through reverse book building on stock exchange and subsequently via an exit offer for one-year period from February 2016 to February 2017. However, over 2 lakh retail shareholders, who did not participate in the delisting and subsequent exit offer provided to them, continue to hold shares in the company.