The London Stock Exchange saw Essar Energy trading on the LSE and saw it suffer losses, the worst in almost a decade.

Essar Energy, saw it shares end at 389.5 pence to 420 pence the IPO price. A 7.2% drop.

Essar will be part of the conditional trading system which allows for the buying and selling of shares without the need to have it delivered. Essar will soon be listed under the London Stock Exchange.

HMV was the last IPO which sank in the London Stock Exchange with a 7.5% drop.

Essar Energy's advisor, JPMorgan Cazenove, bought shares to stabilize Essar’s share prices. Essar Energy is a branch company of Essar Group, India . Essar Group sold 23.4% of their energy business through the IPO and Essar Global Ltd. Hold the remaining shares.

The companies involved in the making of the IPO were JP Morgan Chase & Co. and Deutsche Bank. Ruias’s Essar Energy 5% lost 5% on the LSE.

The £4.20 stock was running at £3.95. The stocks were trader without delivery in the new method in the LSE. Essar will be listen on Friday with the trading going on for 3 days as part of the criteria for the this trading method. The company sold 6% of their shares with the £3.91 at the lowest and £4.19 as the highest.

“The lacklustre debut in conditional trading perhaps signals that Essar Energy’s is not headed to a ga-ga listing, however, a lot depends on the sentiment prevailing on the listing day.” KR Choksey Securities MD Deven Choksey said.