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Essar Preparing for its London listing |
 Ruias led Essar Group, an Indian conglomerate has started preparations for its oil and power business to be listed in London. According to the reports, the listing is for $ 8 billion (5.3 billion).
The Ruia brothers Ravi and Shashi are ranked fifth among the Indian
billionaires with assets worth of $ 13.6 billion by the magazine
Forbes. If listed, Ruias Essar Group shall be the first company to
enter the main market of London during last 7 years. None has come up
during these years after Vedanta got listed 7 years ago. Group’s talks
with the London Stock Exchange officials are already on to know the
obstacles anticipated to come in the way. As the reports say group
chairman is in their London office for the last four months to manage
the things and the CEO is shuttling between Mumbai and London.
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