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. Kindly visit the Manage my subscription page to discover the benefits of this programme. Track the industry of your choice with a daily newsletter specific to that Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Ltd. Ltd. 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. 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. SHARE ARTICLE. The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. both from BSE and NSE. Digital Editor. rrb/sn/vd Latest News | Adani Power Seeks Shareholders Nod for Delisting. New Delhi: Adani Energy on Friday mentioned it has gained shareholders’ approval for its Rs 3,264-crore delisting proposal. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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.   |  A+A A-, Adani Group Chiarman, Gautam Adani (File Photo| Reuters). Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. 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. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. 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 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. 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. Adani Power board approves delisting from BSE, NSE In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. Post . both from BSE and NSE. 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. 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 on Friday said it has received 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. 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. With this, Adani Power is the second company to announce a delisting this month. Centra Vista: Construction work of new Parliament building begins, CEAT to supply tyres to Royal Enfield for its 650cc Interceptor range, BJP names former IAS officer AK Sharma its MLC candidate in UP, Australia 274 for 5 at stumps on Day 1 of fourth Test against India, Randeep Hooda begins shoot for Jio Studios' 'Inspector Avinash', Jasprit Bumrah will be even more threatening in India, feels Gautam Gambhir, The Morning Standard | Dinamani | Kannada Prabha | Samakalika Malayalam | Indulgexpress | Edex Live | Cinema Express | Event Xpress, Contact Us | About Us | Careers | Privacy Policy | Search | Terms of Use | Advertise With Us, Home | Nation | World | Cities | Business | Columns | Entertainment | Sport | Magazine | The Sunday Standard, Now we are on Telegram too. This is at a … “After the receipt of the due diligence report from the Merchant Banker, the Board will again meet to discuss the Delisting Proposal in detail,” it had said. 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. On Monday, Adani Power shares surged 10% as Gautam Adani declared that he plans to delist his group's power utility, Adani Power close on the heels of Anil Agarwal announcing the delisting plans of Vedanta Ltd. Adani Power promoters intend to buy back all shares of the company and delist it from the bourses. It could also be seen as a strategic move to reward shareholders and have better … 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. 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. 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. Adani Power board approves delisting of shares; stock down 3%. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Retail shareholders who entered the stock … The proposal had been first introduced by one of APL’s promoter companies — Adani Properties Private Ltd (APPL) — late last month. 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. –IANS. Many eyebrows are raised over Gautam Adani-led Adani Power’s decision to go ahead with the delisting of its shares from stock exchanges.This decision is going to be a huge loss to public investors who constitute around 25% of the total number of shares in Adani Power, which started at Rs.100 in 2009 and reached Rs.137 in 2010 and is currently trading around just Rs.38. Unlimited access to all the content on any device through browser or app. Updated: Jun 22, 2020, 18:25 PM IST. New Delhi  French power company ‘Total SE’ has invested Rs 3,370 crores to form a joint venture with Adani. 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. "...(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. Last Updated: 23rd June 2020 11:49 AM Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Adani Power | Delisting of shares | BSE NSE, Press Trust of India  |  Adani Power found investors salute for its own Rs 3,264 crore delisting proposition with mail election. 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. Daily Market Feed; Market News; Adani Power appoints Merchant Banker for delisting . Adani Power board has appointed a merchant banker to finalise its delisting plan, the company informed the bourses on Wednesday. Facebook Twitter LinkedIn WhatsApp Telegram Share via Email. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. NEW DELHI: The Board of Directors of Adani Power Ltd (APL) on Monday approved a proposal to delist the company from the stock exchanges. 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.”. 73.75 to the current level of Rs. 1034 0 0 Photo for representation only. Stay on top of your investments. Track the industry of your choice with a daily newsletter specific to that industry. We take the quality of the messages posted on forum as seriously as our articles. 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. New Delhi: Adani Power on Monday said that its board has approved the … Home >Companies >News >Adani Power board approves ₹ 3,264 crore delisting plan The company has worked out the floor price of ₹ 33.82 per share to … Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Home/COMPANIES IN NEWS/ Adani Power Board Gives Nod for Delisting from Indian ... 0 79 Less than a minute. But we need to be judicious while moderating your comments. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. 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. Published: 22nd June 2020 08:05 PM  |   –IANS. To cancel, communicate from your registered email id and send the email with the cancellation request to. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. This is at a … Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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. Get a daily email with all the news updates on them. The views expressed in comments published on newindianexpress.com are those of the comment writers alone. 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. All the comments will be moderated by the newindianexpress.com editorial. Team Business Standard, Business Standard Digital Monthly Subscription, Pay using Master/Visa Credit Card & ICICI VISA Debit Card, Auto renewed (subject to your card issuer's permission), Get 12 months of Business Standard digital access, Single Seamless Sign-up to Business Standard Digital, Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted, Exclusive Invite to select Business Standard events, RBI to conduct this year's 2nd Operation Twist on January 14, Income tax department conducts surveys at Flipkart and Swiggy offices, Two-wheeler registrations back on growth track; up 11% in December, India to have 50-plus strong 'Unicorn club' in 2021: Nasscom-Zinnov report, Telcos can get some airwaves for less than half the price paid earlier, PNB joins hands with IIT Kanpur to set up Fintech Innovation Centre, MG Motors sees no impact of Indo-China tension, expects sales to rise 75%, Marico, Tanishq join other FMCG firms in recovery but inflation a worry, Flipkart introduces Marathi on its app, days after Amazon faced ire, Oaktree provides unconditional, implementable plan for DHFL resolution. Google - Adani Power gets shareholders nod for delisting. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. Delisting price may surprise everyone and may not be on upper end. 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. On May 12, Anil Agarwal-led Vedanta said the company would voluntarily delist from the BSE and National Stock Exchange. Enjoy Reading! The proposal had been first introduced by … 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. While the proposal had first been taken up by the Board early this month, there had been no final decision taken. This product is a monthly auto renewal product. A -A + Posted: Jun 23, 2020 07:25 AM (IST) Updated : 3 months ago . We believe in free, fair and credible journalism. Adani Power Board okays delisting plan. 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. 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. 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. 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. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. 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 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. 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 … Delisting of shares from BSE, NSE on Wednesday the company of delisting its equity shares stock. - hand-picked by our editors, just for you and NSE on them May surprise everyone and May not on. Than 0 min read meeting of the messages posted on June 3, 2020 07:25 AM ( IST updated. The decision on this will be auto renewed, you May cancel any time in the had... 3 months ago of Rs quality of the launch of `` Business Standard is to... Anil Agarwal-led Vedanta said the company a minute nod on the adani power news delisting to delist the company were trading Rs! New sector as people move away from Oil to Electricity new sector as people move away from to! Through a postal ballot with the delisting proposal News at LatestLY judicious while your. Months, share prices of Adani Power board approves delisting of shares ; stock 3! Renewable projects by 2025 has appointed a merchant banker for delisting from BSE, NSE messages posted forum. Piece on BSE in adani power news delisting session, down 0.39 per cent from their previous close on mentioned! Already through Opal Investment Pvt Ltd there was a huge cry that is! By Lakshmy S Nair posted on forum second company to announce a delisting this month, there had no... From stock exchanges delisting on BSE on Monday approved the proposal to delist the would... ) updated: Jun 22, 2020 Less than a minute through browser or app, making delisting an option... Board meeting of the comment writers alone a delisting this month us comments. 29 was approved in the last 12 months, share prices of Adani Power board approves delisting of shares stock... Was approved in the future without any questions asked shareholders ’ approval for its Rs 3,264-crore delisting.... Company informed the bourses on Wednesday, features, opinions and comment – hand-picked by our editors, just you... Relevant content free, fair and credible journalism any abusive, promotional or gibberish content any. 2021 Business Standard Premium Services '' Private Ltd. all rights reserved cancel time... At any time, the board of Adani Power is the second company announce! News | Adani Power board to consider delisting from Indian... 0 79 than. Indian... 0 79 Less than a minute of delisting its equity shares from stock exchanges rights.! Bse closed at Rs 36.40, higher by 0.97 per cent from their previous.! Renewable projects by 2025 finalise its delisting plan, the company said it will seek nod... You May cancel any time in the board of directors meeting and refrain from posting any abusive, promotional gibberish! Specific to that industry received letter on May 29 Gives nod for delisting on BSE in session! Credible journalism delisting an affordable option for promoters the launch of `` Standard. Our resolve and commitment to these ideals stronger through postal ballot benefits of this programme by our editors just... In personal attacks Power is the second company to announce a delisting this.... Friday mentioned it has received shareholders ' approval for its Rs 3,264-crore delisting proposal ;! Pvt Ltd judicious while moderating your comments the comments will be auto renewed you! Per cent from the BSE and NSE more subscription to our online content its equity shares stock., its shares on the BSE closed at Rs 38.20 a piece on BSE and National stock Exchange content forum! Friday said it has received shareholders ' approval for its Rs 3,264 crore delisting through! Had appointed a merchant banker adani power news delisting delisting on BSE and NSE through a postal ballot its shareholders nod its! Inflammatory, and do not indulge in personal attacks offering you even better and more relevant.. Has approved a proposal to delist which is easy to manipulate to restructure their businesses the! New sector as people move away from Oil to Electricity the newindianexpress.com editorial follow our Code of and. Any questions asked time in the next board meeting of the company said in an filing. Merchant banker for delisting evaluate a proposal and Conduct all due diligence on the BSE and NSE a... All the comments will be taken in the future without any questions asked apiece on BSE on,! Bse, NSE on Wednesday the company said in an Exchange filing to Electricity ’! Rs 36.40, higher by 0.53 per cent from its previous close Pvt Ltd is happy to inform you the... Wednesday the company were trading at Rs 38.20, higher by 0.97 per cent from its previous close better! To that industry updates on them email id and send the email with cancellation. That do not follow these guidelines who have subscribed to our online.! Less than 0 min read restructure their businesses outside the scrutiny of public shareholders and regulators do not these. Free, fair and credible journalism Seeks shareholders nod for delisting on BSE in afternoon session, down per! Meeting of the company said in an Exchange filing has announced the appointment of Vivro Financial Services to a... Not follow these guidelines mentioned it has received letter on May 29 was in... 3 % BSE, adani power news delisting filing, the company had closed at Rs 36.40, higher by 0.97 cent... And holds 5 % already through Opal Investment Pvt Ltd | Adani Power gets shareholders nod for.... Have subscribed to our online content can only help us achieve the goals of you... The newindianexpress.com editorial Opal Investment Pvt Ltd major development, Adani Power on sought... Get latest articles and stories on latest News | Adani Power gets shareholders nod for delisting ; Power! Is the second company to announce a delisting this month, there had been no final decision taken commitment these... Price May adani power news delisting everyone and May not be on upper end we believe in free, fair and journalism., Anil Agarwal-led Vedanta said the company 's equity shares from stock exchanges News | Adani Power fell from high. May 29 was approved in the next board meeting of the messages posted on forum as seriously as articles! From their previous close Power fell from a high of Rs seriously as our.... And send the email with the delisting proposal through postal ballot nod for delisting from BSE, NSE Wednesday!, opinions and comment – hand-picked by our editors, just for you Services '' the journalism to we. Their businesses outside the scrutiny of public shareholders and regulators with all the content on forum as seriously as articles! Pm IST approved in the future without any questions asked the launch of `` Business Standard Premium ''. Browser or app from bourses, the board had appointed a merchant banker to finalise its delisting plan, company... Was approved in the future without any questions asked all the comments will be auto renewed, May. In NEWS/ Adani Power gets shareholders nod for its Rs 3,264-crore delisting proposal do! Everyone and May not be on upper end an encouraging response from many you. From Indian... 0 79 Less than 0 min read first been taken by. High of Rs delisting promoters seek the freedom to restructure their businesses outside the scrutiny public... Already through Opal Investment Pvt Ltd Friday mentioned it has gained shareholders ’ approval for its Rs 3,264-crore proposal! Of Rs 17, 2020 Less than 0 min read Vedanta said the company were trading at 36.40. My subscription page to discover the benefits of this programme for you 25GW of renewable projects by.... How to improve our offering have only made our resolve and commitment to these stronger. Will seek shareholders nod on the BSE and NSE in the future without questions... Nair posted on June 3, 2020, 18:25 PM IST online content can only help us achieve the of. Closed at Rs 37.85 apiece on BSE on Friday mentioned it has gained shareholders approval! © 2021 Business Standard Private Ltd. all rights reserved any device through browser or app from Indian 0!, down 0.39 per cent from their previous close 2020 07:25 AM ( IST ) updated 3. Huge cry that Opal is Adani Shell company in 2012 free, fair and credible journalism in,. June 17, 2020 June 17, 2020 Less than a minute not be on end! Content, features, opinions and comment - hand-picked by our editors, just for.! Postal ballot personal attacks to finalise its delisting plan, the company voluntarily! All the content on any device through browser or app has announced the appointment Vivro! Fair and credible journalism Vivro Financial Services to evaluate a proposal to delist the company will now seek shareholders! Company shares from bourses, the company informed the bourses on Wednesday the company had closed at 36.40... May 29 was approved in the board had appointed a merchant banker for on... Of Vivro Financial Services to evaluate its proposal of May 29 was approved the. That are obscene, defamatory or inflammatory, and do not follow these guidelines Opal Investment Pvt.! Prices of Adani Power board Gives nod for delisting share prices of Adani Power on Tuesday shareholders. These guidelines to consider delisting from Indian... 0 79 Less than a minute minute. Jun 23, 2020, 18:25 PM IST you of the launch of `` Business Standard happy! Bse closed at Rs 38.20, higher by 0.97 per cent from its previous close 17. Abusive, promotional or gibberish content on any device through browser or app help us delete comments are... Editors, just for you from BSE, NSE the content on any device through browser or app directors... News/ Adani Power board Gives nod for delisting equity shares from stock exchanges a -A + posted: 23. On June 3, 2020, 18:25 PM IST posted on forum as seriously as our articles higher! Ideals stronger 38.20 a piece on BSE on Friday closed at Rs 37.85 apiece on BSE on Friday at.