Nayara Energy Limited (Formerly Essar Oil)
Stock Fundamentals
About Nayara Energy Limited (Formerly Essar Oil)
Nayara Energy, formerly Essar Oil, is an integrated downstream oil company covering refining, production, marketing and fuel retail. It operates the second-largest refinery in Gujarat along with a 1,000 MW power plant and the Vadinar port and oil terminal.
Essar Oil was delisted from Indian exchanges in 2015-16 through a reverse book-building process at roughly ₹263 per share. In October 2016, Russia's Rosneft and an investor group including Trafigura and UCP acquired the company, which was rebranded Nayara Energy in 2018.
The company has continued expanding its retail network to several thousand fuel outlets nationwide, and in FY20 reported revenue of roughly ₹1,00,641 crore with total debt reduced to about ₹10,757 crore and a debt-to-equity ratio near 0.55x at the time.
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It depends on investor category: 6 months from acquisition for VC/FVCI investors, none for Category II AIFs, and 6 months from IPO listing for retail investors, HNIs and body corporates, under SEBI's August 2021 framework.