ESSAR ports lists at 27% premium
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ESSAR ports lists at 27% premium

Essar Ports, part of the diversified Essar Group, listed at a strong premium on the bourses on Tuesday. HT reports.

business Updated: May 31, 2011 22:46 IST
HT Correspondent
HT Correspondent
Hindustan Times

Essar Ports, part of the diversified Essar Group, listed at a strong premium on the bourses on Tuesday.

The shares of the company closed at Rs 122 on Bombay Stock Exchange (BSE) up by 27%, giving the company a market capitalisation of Rs 5,000 crore.

This makes the company the second-largest private sector port company in the country. It expects to operate on about 70% margins, company officials said.

"We have committed Rs 9,300 crore towards this business, of which Rs 6,150 crore has already been invested," said Rajiv Agarwal, managing director of Essar Ports.

First Published: May 31, 2011 22:44 IST