. 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. How is this fair to the investors? The company has worked out the floor price ... of the SEBI Delisting Regulations as well as any other regulatory approval as may be required in relation to the delisting proposal. Earlier later last month, the APPL had proposed the delisting of the company from stock exchanges. 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. The board has subsequently granted approval to the delisting proposal and consequent voluntary delisting of the equity shares of Adani Power in accordance with SEBI Delisting Regulations. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of … Offer closes soon. The board, "granted approval... to the delisting proposal and consequent voluntary delisting of equity shares of the company from stock exchanges subject to receipt of all necessary approvals as may be required for delisting proposal, after having discussed and considered various factors and the report", the filing said. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. It also placed on record that APPL ( Adani Properties Private Ltd)and other members of the Promoter Group or their related entities are in compliance with Delisting Regulations.". The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. The board of directors approved the floor price for delisting of shares at ₹33.82 per share. Adani Power has a power generation capacity of 12,410 megawatts across six states in India. Linkedin. You are now subscribed to our newsletters. 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. Earlier, promoters of Adani Power intend to buyback all shares of the company and delist it from the bourses. 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. Click here to read the Mint ePaperMint is now on Telegram. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. In a regulatory filing, the company said it will seek shareholders nod for delisting from BSE and National Stock Exchange through a postal ballot. “The meeting of board of directors of Adani Power to be held on Wednesday, June 03, 2020 to consider the proposal for voluntary delisting of the equity shares of the Company received from the promoter company,” Adani Power said in an exchange filing. Adani Power's share price has halved in the last twelve months from a high of Rs 73.75 to the current level of Rs 37.95. 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. Shouldn't delisting be done at least at the CMP? Mumbai: The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. Get Full Digital Access To The Hindu BusinessLine, The Hindu, Frontline, Sportstar, Crossword+, Epaper replica of The Hindu and The Hindu BusinessLine in ONE SINGLE DISCOUNTED PRICE! The board of Adani Power on Monday approved the delisting of its shares from the exchanges at the floor price of Rs 33.82. The company has received the delisting request from promoter group company Adani Properties Private Limited) in May 2020. As per the company’s disclosure on shareholding, the promoter group collectively holds 2,89,16,12,567 equity shares of APL, which is 74.97 per of the total paid-up equity share capital. Following the footsteps of Vedanta, now Adani Power is all looking up to delisting from stock exchanges. Remove some to bookmark this image. 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. Join Mint channel in your Telegram and stay updated with the latest business news. Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Targeted Keywords – Adani Power from bourses, Vedanta and Adani Power, Coal Supply flows, PE funds, adani power limited, Adanipower … If adani have to delist at this Price.. please inform WHY they Did Not do the same Delisting with Adani Green CMP 1040 earlier. 33.8 at around 11% discount. It ... Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ... Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ... Option price falls more than it rises for the same change in underlying, A long-term vacation here is worth a check-in, The fund delivered a return of 31.5% in 2020 compared with the category’s 15.5%, Care Health Insurance’s new rider offers no great benefit. NEW DELHI : The board of Adani Power has approved a proposal to delist company shares from stock exchanges, the Adani group firm said on Monday. 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. At around 12.09 PM, the Adani Power stock was performing at Rs35.35 per piece higher by 1% on Sensex. The company has worked out the floor price of ₹33.82 per share to buy 96.53 crore equity shares with the public for about ₹3,264 crore. Please Subscribe to get access to one of our early bird packs. 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 … Why sharing with Retailers, too. Should you go for Care Health’s new rider plan — Care Shield? This price is currently at a discount to the current market price of INR 35. Adani Power may be the start of many more such cases! Customize your preference and get a personalized recommendation of stories based on your interest. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. It stated that Adani Properties Private Limited (APPL), a member of the promoter and promoter group of the Company, has informed that “as per the certificate dated June 22, 2020 issued by M/s Dharmesh Parikh & Co, Chartered Accountants, ₹33.82 is the floor price per equity share, which is arrived at in accordance with the SEBI Delisting Regulations. Financials of Vedanta and Adani Power Our Bureau Ahmedabad | Updated on December 15, 2020 Published on December 15, 2020 The company has announced delisting of shares at a floor price of ₹ 33.82 … Price target in 14 days: 61.381 INR. The company had, on Saturday, announced that its promoters had set the floor price for delisting at Rs 92.58 — 19 per cent lower than Allcargo’s last closing of Rs 114.5 on Monday. Final delisting prices are determined by a reverse book-building process and require approval from at least 90% of shareholders. Adani Power has a power generation capacity of 12,410 megawatts across six states in India. Your session has expired, please login again. Say cheese, says the organised dairy sector. Adani Power's share price has halved in the last twelve months from a high of Rs 73.75 to the current level of Rs 37.95. Shares of the company were closed at ₹38.20 a piece on BSE on Monday up 0.53 per cent from the previous close. If shareholders object to the timing of delisting and the share price, they have recourse. 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. The board approved the proposal after evaluating report of merchant banker Vivro Financial Services Ltd. At 1.10 pm, Adani Power was trading at Rs. Retail shareholders who entered the stock at high prices, however, would be the biggest losers. In Reply to : Aaarkaay on | Adani Power … Ad spends migrate online, but are brands digital-ready? India is ready with two vaccines to beat the deadliest virus of recent times. Adani Power to delist shares at floor price of 33.82 Business Line Board gives nod for delisting of shares at a discount of 12% from Monday's closing price 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. Adani Power gets a nod from its shareholders for delisting its shares. In such cases, the delisting is absolutely justified as long as the existing shareholders are given a good price. Adani Power gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Calling the shots: Who, when, where and how. 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. In total, Adani needs just 10% further to delist which is easy to manipulate. The board also "took on record the letter dated June 22, 2020 from APPL informing that as per the certificate dated June 22, 2020 issued by Dharmesh Parikh & Co. Chartered Accountants ₹33.82 is the floor price per Equity Share.". The merchant banker appointed by the board earlier this month, stated in its report that "the delisting proposal is in interest of shareholders of the company.". The floor price is the base price at which promoters intend to purchase … Price when posted : NSE: Rs. Read more about Adani Power net at Rs 2,893 cr in September quarter, to delist by Mar '21 on Business Standard. Power is new sector as people move away from Oil to Electricity. 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. Or click on Free Trial to get 14 days free trial. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. Delisting price may surprise everyone and may not be on upper end. Adani needs 15% stake and holds 5% already through Opal Investment Pvt Ltd. Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. While good writing wars against the cliché, television gives it a natural home. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of … 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. A merchant banker has been appointed to finalise the delisting plan, the company informed the Indian bourses on Wednesday (3). Updates on Adani Power Delisting. Company has listed offer price of INR 33.82 per share. Targeted Keywords – Adani Power from bourses, Vedanta and Adani Power, Coal Supply flows, PE funds, adani power limited, Adanipower … SAP says Covid may continue to squeeze sales this year, JP Morgan profit jumps on trading, investment banking strength, Fiat Chrysler partners with Wipro for its first global digital hub in India, HCL Tech plans to add 5,000 freshers in March quarter, Public shareholders hold 96,53,26,374 equity shares, which corresponds to 25.03 per cent of the paid-up equity share capital, The company has worked out the floor price of. Mumbai, June 22 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 Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. Experience cleaner site with zero ads and faster load times. Oops! That also shot up in last year only. Covid-19 has triggered a consumer shift towards branded products as ... Avail Invitation Pricing Now That compares with the BSE Power Index’s 5% gain during the same period. Log in to our website to save your bookmarks. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. The decision on this will be taken in the next board meeting of the company. It'll just take a moment. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. 37.55, down by 1.18%, with a volume of 14.67 lakh shares on the BSE. A merchant banker has been appointed to finalise the delisting plan, the company informed the Indian bourses on Wednesday (3). Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. 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. 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