MUMBAI: Investors in Adani Power are a disappointed lot as the company's board on Monday set the floor price for delisting of shares at ₹ 33.82 apiece, nearly 11% below the market price. Try to avoid outside hyperlinks inside the comment. 73.75 to the current level of Rs. Disclaimer : We respect your thoughts and views! Edited By: Reema Sharma @reema7sharma. Shares of the company were trading at Rs 37.85 apiece on BSE in afternoon session, down 0.39 per cent from their previous close. But we need to be judicious while moderating your comments. Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. "...(delisting) resolution as set out in the notice has been passed with the requisite majority on July 23, 2020, being the last date specified for remote e-voting," a regulatory filing stated. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. –IANS. Adani Power Ltd. shares gained as much as 9.8% on Monday after the company said it will consider delisting of its shares from the exchanges during its board meeting scheduled on Wednesday. Google - Adani Power gets shareholders nod for delisting. Last Updated: 23rd June 2020 11:49 AM Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Adani Power Board okays delisting plan. Adani Power found investors salute for its own Rs 3,264 crore delisting proposition with mail election. 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The board of Adani Power Ltd (APL), a part of the diversified Adani Group, has provided its consent on the proposal for delisting of the company’s equity shares from the stock exchanges i.e.   |  A+A A-, Adani Group Chiarman, Gautam Adani (File Photo| Reuters). In the letter Adani Properties expressed the intention “to either by itself or together with other members of the promoter group acquire all the equity shares of the company”. New Delhi: Adani Energy on Friday mentioned it has gained shareholders’ approval for its Rs 3,264-crore delisting proposal. Adani Power net at Rs 2,893 cr in September quarter, to delist by Mar 21...buy only if delisting plan is within or fails. Updated: Jun 22, 2020, 18:25 PM IST. New Delhi: Adani Power on Monday said that its board has approved the proposal to delist the company's equity shares from stock exchanges. Delisting price may surprise everyone and may not be on upper end. We, however, have a request. On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of the shareholders and that APL was compliant with the requirements needed for delisting. Ltd. In the last 12 months, Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹37.95, making delisting by the promoter group an attractive and affordable option. It could also be seen as a strategic move to reward shareholders and have better … Post. Shares of the company had closed at Rs 38.20 a piece on BSE on Monday, up 0.53 per cent from the previous close. 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In the last 12 months, share prices of Adani Power fell from a high of Rs. Consequently, it said that its Board had approved “the delisting proposal and consequent voluntary delisting of equity shares of the company from stock exchanges subject to receipt of approvals.”. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. 37.80, making delisting an affordable option for promoters. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Pick 5 of your favourite companies. about 7 mins 57 sec ago. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. The product is a monthly auto renewal product. We take the quality of the messages posted on forum as seriously as our articles. This is at a … newindianexpress.com reserves the right to take any or all comments down at any time. Adani Power | Delisting of shares | BSE NSE, Press Trust of India  |  "...(delisting) resolution as set out in the notice has been passed with the requisite majority on July 23, 2020, being the last date specified for remote e-voting," a regulatory filing stated. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. The Adani Power board on June 3 will also discuss the appointment of a merchant banker registered with SEBI for carrying out due diligence as required in terms of Regulation 8(1A)(ii) of the SEBI Delisting Regulations. Copyrights © 2021 Business Standard Private Ltd. All rights reserved. Adani Power board approves delisting of shares On Monday, APL said that the merchant banker’s report had said that the proposal was in the interest of … Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … According to data on the stock exchanges, the promoter group collectively holds 289,16,12,567 equity shares of the company representing 74.97 per of the paid-up equity share capital, while public shareholders control the rest of the 25.03 per cent. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. In case of delisting of Adani Power shares, given the low valuations due to market correction in March 2020, it can be considered as an attempt by the promoters to increase their stake at attractive prices. According to the latest report of global solar companies, Mercom Capital has ranked Adani Green as #1 globally in terms of power generation, operational, and contracted projects. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. The billionaire-Gautam Adani led company said its board has taken on record the delisting proposal letter and has appointed Vivro Financial SeNices Private as the merchant banker. Major price swings over the past two months in the stock of Adani Group's power arm, Adani Power Limited (APL), have baffled market participants. Get a daily email with all the news updates on them. There was a huge cry that Opal is Adani Shell company in 2012. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. Track the industry of your choice with a daily newsletter specific to that The proposal had been first introduced by … Adani Power gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Power is new sector as people move away from Oil to Electricity. Facebook Twitter LinkedIn WhatsApp Telegram Share via Email. both from BSE and NSE. Adani Power board approves delisting of shares; stock down 3%. Get latest articles and stories on Latest News at LatestLY. The company has worked out the floor price of an equity share of Rs 33.82 to buy 96.53 crore scrips with the public for about Rs 3,264 crore. Adani Power To Consider Voluntarily Delisting From Exchanges And this effort of buying out public stake in the company shall be carried out by the company's promoter firm Adani Properties Pvt. While the proposal had first been taken up by the Board early this month, there had been no final decision taken. The company has announced the floor price of a share at Rs 33.82 to buy 96.53 crore shares with the public for about Rs 3,264 crore. New Delhi  Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. Home/COMPANIES IN NEWS/ Adani Power Board Gives Nod for Delisting from Indian ... 0 79 Less than a minute. Adani Power Ltd on Monday gave the final nod to its voluntarily delisting of equity shares at Rs 33.82 which is 10 per cent less than its previous closing of Rs 38 on Friday. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. Adani Power surged 7.69percent to Rs 39.20 after the company said its board will meet on 3 June 2020 to consider a proposal to delist equity shares from the domestic stock exchanges. Post . This product is a monthly auto renewal product. Track stock prices in your portfolio. New Delhi: The board of Adani Power has given its nod to the delisting proposal floated by the promoter group, Adani Group said in a regulatory filing to the stock exchanges on Monday. –IANS. Unlimited access to all content on any device through browser or app. Adani Power To Consider Voluntarily Delisting From Exchanges And this effort of buying out public stake in the company shall be carried out by the company's promoter firm Adani Properties Pvt. APPL had proposed a floor price of Rs  33.82 per share, and would pick up buy 96.53 crore equity shares currently with the public for about Rs  3,264 crore. In its letter to Adani Power’s board, the promoter said the delisting would enable the group to obtain full ownership, and provide enhanced operational and strategic flexibility. Ltd. New Delhi: Adani Power on Monday said that its board has approved the … Adani Green has set a target of 25GW of renewable projects by 2025. Last Updated at July 24, 2020 21:39 IST. The board of Adani Power … Track the industry of your choice with a daily newsletter specific to that industry. With this, Adani Power is the second company to announce a delisting this month. We take the quality of the messages posted on forum as seriously as our articles. Home/COMPANIES IN NEWS/ Adani Power Board Gives Nod for Delisting from Indian ... 0 79 Less than a minute. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Final thirty day period, Adani Electricity experienced issued a detect for voluntary delisting of equity shares of the company from BSE Restricted and National Inventory Trade of India Restricted. Adani Group’s power arm, Adani Power Limited, will delist its shares at a nearly 12 per cent discount from the closing price of the stock on Monday. Major price swings over the past two months in the stock of Adani Group's power arm, Adani Power Limited (APL), have baffled market participants. Adani Power board approves delisting of shares,Mumbai, June 22 (IANS) The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. On May 12, Anil Agarwal-led Vedanta said the company would voluntarily delist from the BSE and National Stock Exchange. APPL had said it intends to, “either by itself or together with other members of the Promoter Group”, acquire all the equity shares of APL. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. Published: 22nd June 2020 08:05 PM  |   French power company ‘Total SE’ has invested Rs 3,370 crores to form a joint venture with Adani. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Investors have lost more than 60% since the IPO price of Rs.100 per share … Adani Power Ltd on Monday gave the final nod to its voluntarily delisting of equity shares at Rs 33.82 which is 10 per cent less than its previous closing of Rs 38 on Friday. New Delhi, June 22. 1034 0 0 Photo for representation only. The Adani Power board has approved the proposal after evaluating report of merchant banker Vivro Financial Services Ltd; New Delhi: The board of Adani Power has given its nod to the delisting proposal floated by the promoter group, Adani Group said in a regulatory filing to the stock exchanges on Monday. This is at a … Adani Power share price gained nearly 10% today after the firm said it would consider delisting of its stock from the bourses during its board meeting scheduled on Wednesday. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Adani Power has worked out a floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 3,264 crore. NEW DELHI: The Board of Directors of Adani Power Ltd (APL) on Monday approved a proposal to delist the company from the stock exchanges. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. The board of Adani Power had approved the proposal to delist company shares from stock exchanges last ... Key stories on business-standard.com are available to premium subscribers only. It is shocking that the promoters are now (in June 2020 in the midst of the COVID-19 pandemic) proposing delisting of the shares of Adani Power at a time when the share price is languishing at around Rs.38 per share. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. The power generation firm’s board is set to meet on 3 June to consider the delisting proposal.Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹36.40 SHARE ARTICLE. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. The company has announced the floor price of a share at Rs 33.82 to buy 96.53 crore shares with the public for about Rs 3,264 crore. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … Topics “…(delisting) resolution as established out in the observe […] Business Standard is happy to inform you of the launch of "Business Standard Premium Services". "Meeting of board of directors of Adani Power to be held on June 3, 2020 to consider the proposal for voluntary delisting of the equity shares of the company received from Adani Properties and related matters incidental thereto," the company said in a regulatory filing. Skip to content. Share: Written By: Zee Media Bureau. rrb/sn/vd both from BSE and NSE. Last month, Adani Power had issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited. The Adani Power board on June 3 will also discuss the appointment of a merchant banker registered with SEBI for carrying out due diligence as required in terms of Regulation 8(1A)(ii) of the SEBI Delisting Regulations. New, May 31 (PTI) Adani Power board will consider a proposal to delist its entire equity shares from the BSE and NSE in its meeting scheduled on Wednesday. Adani Power’s Board will meet on June 3, to consider the proposal for voluntary delisting of the equity shares of the Company received from Adani Properties Private Limited, the company said. Stay on top of your investments. Digital Editor. Kindly visit the Manage my subscription page to discover the benefits of this programme. Adani Power Adani Power board approves delisting of shares from BSE, NSE. rrb/sn/vd Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. Daily Market Feed; Market News; Adani Power appoints Merchant Banker for delisting . Instead, the Board had appointed a merchant banker to evaluate a proposal and conduct all due diligence. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. Adani Power issued a notice for voluntary delisting of equity shares of the company from BSE Limited and National Stock Exchange of India Limited, a regulatory filing stated.The board of Adani Power had approved the proposal to delist company shares from stock exchanges on Monday. Facebook Twitter LinkedIn WhatsApp Telegram Share via Email. All the comments will be moderated by the newindianexpress.com editorial. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of public shareholders and regulators. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. Help us delete comments that do not follow these guidelines. Follow us for updates, Govt postpones national polio immunisation programme from January 17, VJ Asen, 'Chennai Talks' YouTubers held after video on sexuality goes viral, In a first, 8 gorillas test positive for  Covid-19 at US' San Diego park, Bird flu jolts 'Captain Cool' MS Dhoni's Kadaknath chicken farming dream, Rahul Gandhi celebrates Pongal, attends Jallikattu event in Tamil Nadu, Srinagar records coldest night in 30 years, parts of Dal Lake freeze, Mohanlal to Dulquer Salmaan, Malayalam filmstars thank CM Pinarayi Vijayan for 'standing with movie industry', India vs Australia: Indian fans are fuming on Twitter after drawn Sydney Test, these are the reasons. The proposal had been first introduced by one of APL’s promoter companies — Adani Properties Private Ltd (APPL) — late last month. Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Unlimited access to all the content on any device through browser or app. We believe in free, fair and credible journalism. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Adani Power gave out a notification for volunteer delisting of equity reveals of the business coming from BSE Limited and also National Stock Exchange of India Limited, a … It informed exchanges that the delisting proposal of May 29 was approved in the board of directors meeting. Exclusive content, features, opinions and comment – hand-picked by our editors, just for you. To cancel, communicate from your registered email id and send the email with the cancellation request to. The company has worked out the floor price of Rs 33.82 per share to buy 96.53 crore equity shares with the public for about Rs 3,264 crore. Adani Power has announced the appointment of Vivro Financial Services to evaluate its proposal of delisting its equity shares from BSE and NSE . Your support through more subscriptions can help us practise the journalism to which we are committed. NEW DELHI: The Board of Directors of Adani Power Ltd (APL) on Monday approved a proposal to delist the company from the stock exchanges. In a regulatory filing, billionaire Gautam Adani-led firm said the board approved the proposed delisting of the firm based on the recommendations from the merchant banker. A -A + Posted: Jun 23, 2020 07:25 AM (IST) Updated : 3 months ago . 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