Essar Shipping Limited has been subject to regulatory filings regarding shareholding changes involving Energy II Limited, Bermuda. The mandatory disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with the transaction date recorded as December 10, 2025.

Regulatory Filing Details

Energy II Limited, Bermuda has filed the required disclosure as a seller in connection with the release of pledge on Essar Shipping shares. The filing indicates the company's role in the pledge release mechanism:

Share Capital Information

The regulatory document provides comprehensive details about Essar Shipping Limited's share capital structure and the transaction specifics:

Transaction Structure and Compliance

The filing reveals that the shares carrying voting rights were previously encumbered with Energy II Limited, Bermuda, and this pledge has now been released. The document shows that IDH International Drilling Holdco Limited, Cyprus was the entity that held the pledged shares, which have now been freed from encumbrance.

Shareholding Position Post-Transaction

Following the pledge release on December 10, 2025, the shareholding structure reflects the removal of encumbrance on 2,14,06,365 equity shares representing 10.34% of Essar Shipping Limited's total share capital. The regulatory filing ensures full compliance with SEBI disclosure requirements and maintains transparency in corporate shareholding arrangements. Energy II Limited's role as the pledgee in this transaction has been formally documented through proper regulatory channels.

Essar Shipping Mauritius Holdings Limited (ESMHL) plans to acquire a 10.34% equity stake in Essar Shipping Limited (ESL) through an inter-se transfer of shares within the promoter group. The acquisition will be made from IDH International Drilling Holdco Limited, another promoter group entity.

Transaction Details

• ESMHL intends to acquire 10.34% equity shares of Essar Shipping Limited.
• The acquisition will be made from IDH International Drilling Holdco Limited.
• The transaction is priced at Rs. 35.25 per share, based on the 60-day volume weighted average market price.

Regulatory Compliance

The transaction is structured as an inter-se transfer among promoter group entities, which exempts it from the requirement of making an open offer under the Securities and Exchange Board of India (SEBI) takeover regulations.

Key Points

• The acquisition is exempt from open offer requirements under SEBI takeover regulations.
• The transaction falls under the category of inter-se transfer among promoter group entities.
• Both the transferor (IDH International Drilling Holdco Limited) and transferee (ESMHL) are expected to comply with applicable disclosure requirements under the Takeover Regulations.

This move by Essar Shipping Mauritius Holdings Limited may potentially consolidate its position in Essar Shipping Limited. However, as the transaction is an inter-se transfer within the promoter group, it is not expected to significantly impact the day-to-day operations of Essar Shipping Limited.