Infrastructure Conglomerate

Essar is one of the most talked about conglomerates of India and has its presence into business through oil & gas, shipping, construction, telecom & BPO, steel and power. The Rs. 110 billion group has been largely consolidating its holdings under the Essar Global; Ernst & Young being the adviser to the group.

The telecom arm – better known as Hutchison Essar has been one of the key businesses of the Group. In July 2006, Essar increased its stake in the HEL (Hutchison Essar Limited) by 6.26% to make it 22.02% from the previous 15%. It accelerated in the telecom sector by few significant moves; buying out TPG Nambiar’s 13% stake for Rs.1.25 billion in BPL Communications was one of them. It is on the grapevine that Essar is getting into retail by this December via. selling mobile phones and Richard Branson is said to provide the technical support and store design to it.

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Source:- IIPM Editorial

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