Hutchison Essar may not list on the bourses in the current fiscal year. The Indian arm of HTIL was expected to come out with an initial public offer this year after it restructured the shareholding pattern in March to comply with FDI norms. The company reportedly has strong capital reserves and is not in a hurry to tap the market. It has not specified any time-frame for the proposed listing. India is the biggest contributor to HTIL’s revenues, accounting for 72.9 per cent of total subscribers.
