This will possibly be done to an oil trader or a strategic investor like Saudi Aramco. The sale of 74% stake, which includes 49% to Rosneft and 25% some other investor, will help bring down Group debt by half to about Rs 46,000 Cr from current Rs 88,000 Cr. The promoters see an enterprise value of Essar Oil of $10 Bn.

Ruias looking to sell another 25% stake in the company

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