The scrip traded 3.42 per cent down at Rs 36.70 after the announcement. The Company has informed that after the receipt of the due diligence report from the merchant banker, the board will again meet to discuss the delisting proposal in detail. The board of Adani Power has taken on record the delisting proposal letter and has appointed Vivro Financial Services Private as the merchant banker, reported the Economic Times. In a regulatory filing, billionaire Gautam Adani-led firm said that the board approved the proposed delisting of the firm based on the recommendations from the merchant banker. June 01 2020, 9:53 AM June 01 2020, 10:17 AM. –IANS. 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 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 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. "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," Adani Power had said in a regulatory filing last week. Adani Power has a power generation capacity of […] In a regulatory filing, the company said it will seek shareholders’ nod for delisting from the BSE and the NSE 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. 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. The company had suffered a … Adani Power registered a profit before tax of Rs 2893 crore during the second quarter of the current financial year ending September 2020. 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. Adani Power board on Wednesday appointed merchant banker Vivro Financial Services Pvt Ltd to evaluate the proposal to delist its equity shares from BSE and National Stock Exchange. 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 shares opened at the intra-day high of Rs 40 and touched a low of Rs 37.The stock of Adani Power has rallied 25 per cent in the past one month alone. The board approved the proposal after evaluating the report of merchant banker Vivro Financial Services. Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of … INDIAN billionaire Gautam Adani-owned Adani Power has appointed merchant banker for due diligence on delisting plan of the company. The Adani group wants to delist Adani Power, whose board will meet on June 3 to consider the proposal.. The Company has informed that after the receipt of the due diligence report from the merchant banker, the board will again meet to discuss the delisting proposal in detail. At current prices, the stock looks highly overvalued and … ................................ Advertisement ................................ 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We take the quality of the messages posted on forum as seriously as our articles. 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. Edited By: Reema Sharma @reema7sharma. 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. Adani Power's board will consider the delisting proposal pursuant to the receipt and consideration of a due diligence report from a merchant banker appointed for the said purpose by the company. Each share has a face value of Rs 10. Updates on Adani Power Delisting. Copyright © 2020 The Telegraph. 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 The … This price is currently at a discount to the current market price of INR 35. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. Adani Power's board at its meeting held on 22 June 2020 approved voluntary delisting of shares of the company from the stock exchanges. 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. Company has listed offer price of INR 33.82 per share. “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 … Adani Power gets shareholders' nod for delisting Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. Earlier, promoters of Adani Power intend to buyback all shares of the company and delist it from the bourses. Adani Properties and other members of the promoter group are in compliance with delisting regulations, it added. Adani Power sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. The Adani Group’s power arm, Adani Power has announced the appointment of Vivro Financial Services as the merchant banker to evaluate its proposal of delisting its equity shares from BSE and NSE. 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. 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. All rights reserved. Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Power on Friday said it has received shareholders' approval for its Rs 3,264-crore delisting proposal. On Monday, its shares on the BSE closed at Rs 38.20, higher by 0.53 per cent from its previous close. In a regulatory filing, the company said it will seek shareholders nod for delisting on BSE and NSE through a postal ballot. New Delhi: Adani Power on Monday said that its board has approved the … In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. The merchant banker stated in its report that “the delisting proposal is in the interest of shareholders”. "Take Me Back": A Carton Recycling Program In Chennai. Financials of Vedanta and Adani Power . about 7 mins 57 sec ago. Post. Adani Power in July this year received the shareholders' nod for its Rs 3,264 crore delisting proposal. 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. The shares ended the session at Rs 39.55, higher by Rs 3.15 or 8.65 per cent on the BSE. Financials of Vedanta and Adani Power. 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. The delisting proposal will enhance the company's operational, financial and strategic flexibility regarding corporate restructurings, acquisitions and exploring new financing structures, Adani Power added. 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. 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 gets a nod from its shareholders for delisting its shares. PTI | New Delhi | Updated: 22-06-2020 13:51 IST | Created: 22-06-2020 13:51 IST. Adani Power shares gained nearly 9 per cent on Monday after Gautam Adani- promoted electric utilities company said it will consider delisting of its shares from the exchanges during its board meeting scheduled on Wednesday. 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. 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. Follow our special coverage of Coronavirus pandemic in India and get news updates from around the world. Mumbai: Billionaire Gautam Adani 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 buyback all shares of the company and delist it from the bourses. Adani Properties, promoter of Adani Power will acquire all equity shares held by public shareholders. Shares of Adani Power rose 10 per cent to Rs 40 on the BSE on Monday after the Gautam Adani- promoted electric utilities company said its board will meet to consider delisting the company from the stock exchanges. The decision on this will be taken in the next board meeting of the company. Shares of Adani Power dropped over 3 per cent in Monday’s trade after the board approved the proposal to voluntarily delist shares at a floor price of Rs 33.82, which is 11 per cent lower than the previous close. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. The Sensex ended 879 points or 2.71 per cent higher at 33,303.52 and the Nifty 50 index surged 246 points or 2.57 per cent to close at 9,826.15. 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 The board of Adani Power has approved a proposal to delist company shares from bourses, the Adani group firm said on Monday. The report also stated that the company is in compliance with applicable provisions of the securities law for delisting. If approved, this will be the first time billionaire Gautam Adani will de-list a business.. Adani Power on Friday informed the exchanges it had received a delisting proposal from Adani Properties, which is a member of the promoter and promoter group. In the delisting proposal letter, Adani Properties, promoter of Adani Power, expressed its intention to acquire all equity shares of the company held by the public shareholders. 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