India's Essar Plans $2.5 Billion London Oil and Power Listing

摘要

Essar Group, one of India's biggest conglomerates, plans to raise about $2.5 billion by listing its oil and power business on the London Stock Exchange (LSE). Essar Energy, the holding company for the group's energy business, will sell a stake of 20%-25% to institutional investors in the UK to raise funds for power, refining and upstream projects, Vice Chairman Prashant Ruia said on a conference call with journalists Thursday.