about 7 mins 57 sec ago. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. "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. Facebook Twitter LinkedIn WhatsApp Telegram Share via Email. 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. 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.”. 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. With the delisting promoters seek the freedom to restructure their businesses outside the scrutiny of public shareholders and regulators. Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. The product is a monthly auto renewal product. Unlimited access to all the content on any device through browser or app. The proposal had been first introduced by … 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. | A+A A-, Adani Group Chiarman, Gautam Adani (File Photo| Reuters). Adani Power board on Monday approved the proposal to delist the company’s equity shares from stock exchanges. Investors have lost more than 60% since the IPO price of Rs.100 per share … –IANS. Post . In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. 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. Home/COMPANIES IN NEWS/ Adani Power Board Gives Nod for Delisting from Indian ... 0 79 Less than a minute. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. 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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. rrb/sn/vd 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. Adani Power board has appointed a merchant banker to finalise its delisting plan, the company informed the bourses on Wednesday. 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. Unlimited access to all content on any device through browser or app. Retail shareholders who entered the stock … 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 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 Ltd. 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. Help us delete comments that do not follow these guidelines. On May 12, Anil Agarwal-led Vedanta said the company would voluntarily delist from the BSE and National Stock Exchange. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. 7.40 AM Dec 29th. 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. Track the industry of your choice with a daily newsletter specific to that industry. SHARE ARTICLE. We take the quality of the messages posted on forum as seriously as our articles. 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 needs 15% stake and holds 5% already through Opal Investment Pvt Ltd. 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 … 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. 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. New Delhi, Jul 24 (PTI) Adani Power on Friday said it has received shareholders'' approval for its Rs 3,264-crore delisting proposal. 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. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. Updated: Jun 22, 2020, 18:25 PM IST. To cancel, communicate from your registered email id and send the email with the cancellation request to. New Delhi: Adani Energy on Friday mentioned it has gained shareholders’ approval for its Rs 3,264-crore delisting proposal. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. 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. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. 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. The proposal had been first introduced by one of APL’s promoter companies — Adani Properties Private Ltd (APPL) — late last month. Power found investors salute for its Rs 3,264-crore delisting proposal take the quality of the company now... 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