Nayara Energy (Formerly Essar Oil) Limited Unlisted Shares Details:

About Nayara Energy (Formerly Essar Oil) Limited:

Nayara Energy (formerly known as Essar Oil) is an integrated downstream oil company of international scale encompassing the entire hydrocarbon value chain from refining to production and marketing, across segments, including retail. In 2016 Essar Oil was acquired by Rosneft, the world’s largest public oil and gas company by liquid hydrocarbon production and reserves and an investment consortium led by global commodity trading firm Trafigura & UCP Investment Group. Essar Oil has since been renamed as Nayara Energy.

History of Essar Oil 

Essar Oil was part of the Essar Group based out in Mumbai before it was acquired by Rosneft a Russian Company.

Essar Oil has Private Petrol Pumps, operates the second-largest refinery in Gujarat, India, and 1000-MW power plant along with the Vadinar port and oil terminal.

In October 2016, Russia state-owned oil company, Rosneft bought a 49% stake in Essar Oil, along with Russian investment fund United Capital Partners in a deal worth $12.9 billion. Other investors include Trafigura and UCP Investment Group. They renamed the company to ‘Nayara’, coined from “Naya” (New) and “Era”, in May 2018.

After the acquisition of 49.13% stake by Rosneft and another 49.13% by Trafigura and UCP Investment Group, the new owners of Essar Oil aim to scale up the company’s petrol pump network to 6,000 outlets in India from 3,500 now.

Milestone after the Acquisition:

1)    The company after being acquired by New Management Raised INR 2,400cr (c. US$ 355mn) through its placement of nonconvertible debentures in 2018.

2)    Local credit rating1 upgraded by three notches to “AA”.

3)    Refinancing of INR Debt for optimization of capital structure.

Financials of Nayara Energy (Formerly Essar Oil) Limited Unlisted Shares:

(Figures in Crores)

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