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Nayara Energy Ltd (Formerly Essar oil)
Pre-IPO
Petroleum Company
About Company:
Nayara Energy Limited is a privately-held downstream oil company based in Mumbai, India, that encompasses refining, marketing, production and a network of over 6,000+ retail fuel outlets in India. It operates India's second largest oil refinery in Vadinar, Gujarat.
Company Overview
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.
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.
Milestone after the Acquisition:
i. The company after being acquired by New Management Raised INR 2,400cr (c. US$ 355mn) through its placement of nonconvertible debentures in 2018.
ii. Local credit rating1 upgraded by three notches to “AA”.
iii. Refinancing of INR Debt for optimization of capital structure.
Promoter-Management
Name Designation
Mr. B Anand Chief Executive Officer
Mr. C Manoharan Director & Head of Refinery
Mr. Anup Vikal Chief Financial Officer
Shareholders Pattern
Category of shareholder No. of shares Holding (in %)
Kesani Enterprises Company Limited 25,65,94,520 17.21
Rosneft Singapore Pte. Ltd 25,65,94,520 17.21
Shares held by Custodian for GDRs & ADRs 95,14,63,854 63.83
Other shareholders 2,59,08,261 1.75
Total outstanding shares 1,49,05,61,155 100