Essar Oil announced on Monday that it has approved to consider the delisting proposal received from Essar Energy Holdings (EEHL).

The company received a letter from EEHL informing the board of the proposal of EEHL to voluntarily delist the equity shares of the company currently listed on the BSE and NSE in accordance with Securities and Exchange Board of India.

Shares of the company gained Rs 6.55, or 6.11%, to trade at Rs 113.80. The total volume of shares traded was 127,902 at the BSE (10.50 a.m., Monday).