Our Footprints. The country’s financial capital faced a rare power outage on October 12 after a technical issue in the grid system hit power supplies. Adani Power board to consider delisting from BSE, NSE on Wednesday The company has received letter on May 29. The Adani Power stock ended the … Adani Power will be 90 when it will be opened for delisting in Q4. FEATURED FUNDS ★★★★★ Axis Bluechip Fund Direct Plan-Growth. At current prices, the stock looks highly overvalued and … Adani Power to consider 3500 delisting proposal livemint In the last 12 months, the Adani Power's share price has halved from a high of 73.75 to the current level of 36.40, making delisting by the promoter group and attractive and affordable option Enjoy Reading! Copyrights © 2021 Business Standard Private Ltd. All rights reserved. The report had also stated that the company is in compliance with applicable provisions of securities law for delisting. Reports suggest that promoter are willing to delist the company that means they will buy 25% shares which public hold. 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. Earlier in May, the APPL had proposed the delisting of the company from stock exchanges. 50.70. thanks dear Ravi for the reply,some 8 years back i invested here heavily at around 30_40 but that time since it was not moving i moved out but now again the scrip has attracted me ,so i will invest some money here ,thanks dear. Adani Power… 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. June 01 2020, 9:53 AM June 01 2020, 10:17 AM. 7.15 PM Jan 6th. 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. “We have received approval from close to six lenders. Over the last decade, the two companies have demonstrated volatility in their debt to equity ratio. Comment . Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. Key Developments. Adani Power surged 7.69% 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. 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. 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. “We have received approval from close to six lenders. "...(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. You're signed out. The promoter group collectively holds 2,89,16,12,567 equity shares of the company representing 74.97 per of the paid-up equity share capital. We are likely to conclude delisting by December or till the end of this financial year,” Sardana said responding to a query. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. 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. 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. HCL Tech's growth streak to continue as it looks at multi-year technology upcycle, says CFO Prateek ... Air India privatisation: Govt may intimate qualified bidders by January 30, Union ministers start ninth round of talks with protesting farmer unions, WhatsApp Privacy Policy: Judge withdraws from case after Facebook email to court, Webinar Presented by Knowlarity & Freshworks. Adani Power promoters intend to buyback all shares of the company and delist it. 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 Delisting-Full Details || Explained by Vipul Kaushikk - YouTube. “Adani Group had come out with the IPO of Adani Power in August 2009 at the issue price of Rs.100 per share. Adani Power appoints merchant banker for due diligence on delisting plan 03 Jun, 2020, 10.31 PM IST 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. 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. Adani Power has proposed delisting at ₹33.82 per share, which is at a discount of 10% over the closing price on June 19. Adani Transmission Ltd (ATL), which is the transmission and distribution arm of the Adani Group also declared its Q2 results on Thursday. 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. Price when posted : NSE: Rs. PTI | New Delhi | Updated: 22-06-2020 13:51 IST | Created: 22-06-2020 13:51 IST. Profile. 765 cr: KR Choksey. Adani Power shares declined up to 5 per cent intraday on Monday, but recovered to close at Rs 38.20 on the Bombay Stock Exchange, up 0.5 per cent. Adani Power's delisting proposal is set at a floor price of Rs33.82 per share. The world may have come to a standstill but Adani Power will continue to illuminate millions of homes as India combats the darkness of COVID-19 outbreak. Topics 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. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Charts. We are likely to conclude delisting by December or till the end of this financial year,” Sardana said responding … We believe in free, fair and credible journalism. 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. Shares of Adani Power on the BSE on Friday closed at Rs 36.40, higher by 0.97 per cent from its previous close. Adani Power has a power generation capacity of 12,410 megawatts across six states in India. People. Addressing the media after results, Sardana said the company is looking forward to the power transmission projects which the central government will offer under tariff based competitive bidding. NSE Gainer-Large Cap . Digital Editor. 12.43 % Invest Now. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As of on the National Stock Exchange of India ∙ Minimum 15 minute delay. The total expenses reduced to Rs 5,898.35 crore from Rs 6,658.44 crore in the year-ago period. Register Now! 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. 7.40 AM Dec 29th. Videos you watch may be added to the TV's watch history and influence TV recommendations. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. 4.91%. Apollo Hospital 1,777.10 88.2. Kindly visit the Manage my subscription page to discover the benefits of this programme. Adani Power on Tuesday sought shareholders nod for its Rs 3,264 crore delisting proposal through postal ballot. Public shareholders hold 96,53,26,374 equity shares, which correspond to 25.03 per cent of the paid-up equity share capital. Adani Properties fixed the floor price at Rs 33.82 a share, based on the recommendations of CA firm Dharmesh Parikh & Co. Adani Power will now seek shareholders’ nod on the delisting … Adani Mumbai Electricity Limited, which is a wholly owned subsidiary of ATL is one of the power distributors in Mumbai. The decision on this will be taken in the next board meeting of the company. Your support through more subscriptions can help us practise the journalism to which we are committed. 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. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. 12.20 AM Dec 16th. Anil Sardana, managing director and CEO, Adani Transmission ltd and MD-thermal at Adani Power in a media call on Thursday said the deslisting process of Adani Power is in process. Last Updated at November 6, 2020 10:16 IST. Businesses. We, however, have a request. Google - Adani Power gets shareholders nod for delisting. Committed to ensure energy security for the nation . 172@29@17@144!~!172@29@0@53!~!|news|business|markets|adani-power-gets-shareholders-nod-for-delisting-5595321.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false, Crude oil futures down nearly 1% at Rs 3,866 per barrel on weak demand. 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. rrb/sn/vd Events. 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. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Key Metrics. In such a scenario, Adani Power seems to have fallen off the radar of investors, said a trader. Farmers' Protest LIVE Updates | Narendra Tomar asks farmer groups to be 'flexible' during 9th round of talks, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Positional and Intraday Trading Calls basis Noiseless Chart, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation. If playback doesn't begin shortly, try restarting your device. write to s.kamat. Other lenders would also approve. Overall, the proposal includes delisting of 96.53cr equity shares with the public for approximately Rs3,264cr. 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. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Post. Read more. 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. Adani Power board will consider a proposal to delist its entire equity shares from the BSE and NSE in its meeting scheduled on Wednesday. For the half year ending September 2020, the company registered a PBT of Rs 2260 crore, During last year corresponding period, its PBT was Rs 36.23 crore. 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. Another is a HVDC system which will add another 1,000 Mw supply to Mumbai. 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. It had 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 post Adani Electrical power Ltd.: Adani Power receives shareholders’ nod for delisting appeared first on BuddyMantra News. In a major development, Adani Power board on Monday approved the proposal to delist the company's equity shares from stock exchanges. The board of Adani Power is scheduled to meet on Wednesday to consider the … –IANS. View all . 12,450 MW . 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