Essar Shipping to Divest Overseas Subsidiaries and Assets

Essar Shipping Limited announced at its 16th Annual General Meeting (AGM) held on September 30, 2026, the approval for the disinvestment in its overseas wholly-owned subsidiaries, Essar Shipping DMCC (U.A.E.) and OGD Services Holdings Limited (Mauritius). The company also received approval for the sale of assets, including the Semisubmersible Rig – Essar Wildcat and Tug III. The disinvestment and asset sales are to be completed within one year from the AGM at Fair Market Value, with buyers identified as group companies. The net worth of ESDMCC and OGDSHL was reported as negative Rs. 705.48 Crore and Rs. 459.72 Crore respectively, contributing 34.03% and 22.17% to the company's net worth. The AGM also approved the appointment/re-appointment of directors and general related party transactions.